Deborah A. Oare
Licensed Associate Real Estate Broker
REALTOR®
Northville, NY
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Property Description

DEVELOPER ALERT: R5 Zoning Blockbuster - Grandfathered 2.42 FAR Multifamily in East New York!Description: Attention strategic developers, cash buyers, and value-add investors! 538 Hendrix Street presents an extraordinary Brooklyn anomaly: a massive, built-out multifamily footprint situated within a highly desirable R5 Zoning District.Legally classified as a 2-Family home but currently operating as a high-income 3-Family setup, this brick asset is a goldmine for cash buyers ready to maximize an existing footprint that is literally impossible to legally build from scratch today.The Footprint & Layout: Unit 1: Highly rentable 3-Bedroom layout Unit 2: Generous 2-Bedroom layout Unit 3: Additional 2-Bedroom layout Bathrooms: 3 Full Baths (one per unit) Bonus Potential: Full, unfinished basement with independent access-ideal for building mechanical storage, tenant lockboxes, or potential duplex expansion.The R5 Zoning & Development Advantage: In an R5 district, new residential builds are strictly capped. However, this property grants you an incredibly valuable, grandfathered envelope: Zoning District: R5 Standard Max Residential FAR: 1.5 (Max Buildable Area: 1,482 sq. ft.) Current Built FAR: 2.42 (Current Built Area: 2,391 sq. ft.) The Math: This structure sits -909 sq. ft. OVER standard modern R5 residential limits. The Opportunity: By executing an As-Is gut renovation or a variance-backed modernization of the existing structure, you preserve a massive layout advantage that a standard vacant lot or new construction simply cannot match.Terms & Disclosures: INVESTORS, CASH, OR HARD MONEY BUYERS ONLY. Property will be delivered completely AS-IS. Configured as a 3-bed over 2-bed over 2-bed + unfinished basement. Buyer is entirely responsible for verifying all zoning codes, certificates of occupancy, and navigating any future legal legalizations or variance optimizations with the NYC DOB.

538 Hendrix Street | MLS# 1013705

This multi-family property located at 538 Hendrix Street , Brooklyn, NY 11207 is currently listed for sale with an asking price of $999,999. Hendrix Street is located within the Brooklyn 19 school district. Search Brooklyn real estate on deborah-oare.coldwellbankerprime.com today.

Upcoming Open Houses

Open House Saturday June 20th, 1:00pm - 3:00pm

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Property Features

Property Type: Multi Unit - Multiple
Basement: Unfinished
Basement: Yes
Cooling: None
Heating: Baseboard
Lot Size: 0.02 Acres
Taxes: $3,460
Year Built: 1901

Amenities

First Floor Bedroom

Feature Descriptions

Building Area Total: 2394
Exterior: Brick
On Market Date: 2026-06-15
Parcel Number: 04058-0122
Parking Features: None
Property Attached Y/N: 1
Rental Term: Monthly
Seller Concession: Yes
Sewer: Public Sewer
Units: 3
Utilities: Electricity Connected, Natural Gas Connected, Sewer Available
Water: Public

Local Schools

High School: Transit Tech Career And Tech Edu
Middle School: Jhs 292 Margaret S Douglas
Elementary School: Ps 149 Danny Kaye
School District: Brooklyn 19

Estimate Your Payment

Estimated Payment

$ 2,805.57 per month $2,225.57 Principal & Interest $288.33 Property Tax $291.67 Homeowner's Insurance

Change Payment Information

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years/fixed
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yearly (est.)
(Payments are an estimate and may vary by lender)

Demographics

Listed By / Shown By

Listing By

Agency Name: 1st American One NYC LTD
Agency Phone: 516-376-9720

Shown By

Agent Name: Deborah A. Oare
Agent Phone: (518) 221-2173 Cell
Agency Title: Coldwell Banker Prime Properties

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 06/15/2026. The listing information on this page last changed on 06/15/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Mon 06/15/2026 12:52:15 AM EST) or Global MLS (last updated Mon 06/15/2026 12:37:27 AM EST) or New York State Alliance MLS (last updated Mon 06/15/2026 12:50:53 AM EST) or Hudson Valley Catskill Region MLS (last updated Mon 06/15/2026 12:11:12 AM EST) or OneKey MLS (last updated Mon 06/15/2026 12:49:21 AM EST). Real estate listings held by brokerage firms other than Coldwell Banker Prime Properties may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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