538 Hendrix ST Brooklyn, NY 11207
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1013705
Rental Info No
Year Built 1901
Annual Tax Amount $3,460
Lot Size 988 Sqft
Acres 0.0227
Property Sub-Type Triplex
Source onekey2
Property Description
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.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Unfinished
Interior
Interior Features First Floor Bedroom
Heating Baseboard
Cooling None
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Available
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 149 Danny Kaye
Middle Schools Jhs 292 Margaret S Douglas
High Schools Brooklyn 19
School District Brooklyn 19
Others
Senior Community No
Special Listing Condition None
Salmon Real Estate has been selling residential homes and commercial property on Staten Island since 1956, making us the oldest independent real estate firm on Staten Island.
Our invaluable experience and resources means your needs are our priority. Salmon’s hands-on, team approach means we treat your real estate transaction as if it were our own: personally, professionally, and with over a half-century of know-how.
If you're interested in this listing and would like to learn more, just drop us your name info here and we'll get straight back with you to discuss it. We look forward to speaking with you.