Investment Opportunity – Vacant R4 Three-Family on Oversized Lot
Excellent opportunity to own a vacant three-family property situated on an oversized R4 lot with a two-car garage, large driveway, and ample off-street parking. This property offers tremendous income potential, whether used strictly as an investment or as an owner-occupied home with rental income from the additional units.
The first-floor unit features 3 bedrooms, a living room, dining room, and kitchen. The second unit is an oversized duplex offering 4 bedrooms and 2 bathrooms. The lower-level unit includes 1 bedroom. The home needs updating, but offers strong upside for investors, developers, or buyers looking to customize and add value.
Additional income potential may be available through the two-car garage and spacious driveway, which can be rented separately. Architect comments are available upon request regarding potential development opportunities due to the property’s lot size. Buyer to perform due diligence regarding development possibilities, zoning, and permitted use.
For sale
$1,550,000
635 E 38th Street, Brooklyn, NY 11203
8beds
2,523sqft
Triplex, Multi Family
Built in 1920
-- sqft lot
$-- Zestimate®
$614/sqft
$-- HOA
What's special
- 1 day
- 141
- 11
Zillow last checked:
Listing updated:
Listed by:
YourHomeSold Guaranteed Realty 718-684-2400,
George Ockovic 518-441-8786
Source: OneKey® MLS as distributed by MLS GRID,MLS#: 1065148
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Natural Gas
Cooling
- None
Features
- First Floor Bedroom, First Floor Full Bath
- Basement: Finished,See Remarks,Walk-Out Access
- Attic: Finished
Interior area
- Total structure area: 2,523
- Total interior livable area: 2,523 sqft
Property
Parking
- Total spaces: 2
- Parking features: Driveway, Garage
- Garage spaces: 2
- Has uncovered spaces: Yes
Features
- Patio & porch: Covered, Porch
Lot
- Size: 5,000 Square Feet
- Features: Back Yard
Details
- Parcel number: 049720059
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex, Multi Family
Materials
- Vinyl Siding
Condition
- Year built: 1920
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected
Community & HOA
Location
- Region: Brooklyn
Financial & listing details
- Price per square foot: $614/sqft
- Tax assessed value: $59,100
- Annual tax amount: $9,069
- Date on market: 10/23/2026
- Listing agreement: Exclusive Right To Sell
- Tenant pays: Electricity
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/23/2026 | Listed for sale | $1,550,000+58.2%$614/sqft |
Source:  OneKey® MLS as distributed by MLS GRID #1065148 Report a problem | ||
| 9/1/2026 | Sold | $980,000-18.3%$388/sqft |
Source: Public Record Report a problem | ||
| 3/9/2024 | Listing removed | $1,200,000$476/sqft |
Source: StreetEasy Report a problem | ||
| 11/1/2023 | Listed for sale | $1,200,000$476/sqft |
Source: StreetEasy Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,069 0% | $61,920 -15% |
| 2024 | $9,073 | $72,840 +6.1% |
| 2023 | -- | $68,640 +22.2% |
| 2022 | -- | $56,160 -1% |
| 2021 | -- | $56,700 +19.6% |
| 2020 | $8,062 +1.2% | $47,400 +20.6% |
| 2019 | $7,968 +7.3% | $39,300 +10.7% |
| 2018 | $7,429 +8.8% | $35,515 +6% |
| 2017 | $6,831 +10.1% | $33,508 +5.6% |
| 2016 | $6,206 | $31,740 -3.8% |
| 2015 | $6,206 +62.8% | $32,992 +5.2% |
| 2014 | $3,813 | $31,371 +6% |
| 2013 | -- | $29,596 +6% |
| 2012 | -- | $27,924 +1.6% |
| 2011 | -- | $27,494 |
| 2010 | -- | $27,494 +5.2% |
| 2009 | -- | $26,143 +6% |
| 2008 | -- | $24,664 +6% |
| 2007 | -- | $23,270 +1.6% |
| 2006 | -- | $22,912 |
| 2005 | -- | $22,912 +5.2% |
| 2004 | -- | $21,787 +6% |
| 2003 | -- | $20,554 +6% |
| 2002 | -- | $19,392 +1.6% |
| 2001 | -- | $19,094 |
| 2000 | -- | $19,094 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: East Flatbush
Nearby schools
Schools provided by the listing agent
- Elementary: Ps 198
- Middle: Andries Hudde
- High: Midwood High School
Source: OneKey® MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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