$10,000 Closing Credit¹
#488316, Listing Office: Ben Bay Realty Co
$2,600,000 List price
1115 40th St Brooklyn, NY 11218
11 beds
3 full
3,576 sqft
$727 / sqft
Multi-Family
Property details
About 1115 40th St
ALL-CASH BUYERS ONLY – PRIME INVESTMENT OPPORTUNITY IN BOROUGH PARK. EXTERNAL VIEWINGS ONLY! INVESTOR ALERT: Rare opportunity to acquire a 3-FAMILY BRICK HOME IN the heart of Borough Park, one of Brooklyn’s most in-demand neighborhoods for rental and long-term appreciation. This solid brick building spans 20' x 62' and sits on a 20' x 95.17' lot, offering three full floors above ground plus a full basement. Ideal for maximizing rental income or exploring future value-add opportunities. Whether you're seeking stable multi-family rental income or a long-term hold in a high-growth area, under R6 zoning, this property offers exceptional potential with flexible configurations. Adding to its appeal, the property benefits from low annual property taxes of only $9,920.20, enhancing long-term investment returns. Serious, all-cash inquiries only. MLS Approve- No financial provide due to property being vacant
Highlights
Home typeMulti Family
HeatingOther
StatusActive
CoolingOther
Size3,576 sqft
BasementYes
Year built1920
ParkingNone, Street
MLS #492220
FireplaceOther
Summary
- Full Bathrooms: 3
- Appliances: Other
- Basement: Yes
- Flooring Type: Other
- Interior: Other
- Fireplace: Other
- Total Bedroom Count: 11
- Attached Garage: No
- Parking: None, Street
- Exterior: Other
- Heating: Other
- Cooling: Other
- List Price: $2,600,000
- Price/SqFt: $727
- Year Built: 1920
- Stories: 3
- Living Area: 3,576 SqFt
- MLS Number: 492220
- Office Name: RE/MAX Edge
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Last updated on: 5/21/2025, 2:20:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$2,600,000
1115 40th St
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Price information
Property sales
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Tax history
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Nearby schools
4
P.S. 119 The Amersfort School
Public Magnet KG-5
0.2 mi
•3829 Avenue K
5
P.S. 198 Brooklyn
Public Magnet PK-5
0.6 mi
•4105 Farragut Rd
3
P.S. 251 Paerdegat School
Public District KG-5
0.7 mi
•1037 E 54th St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $66,422. The most common annual income of people living in Brooklyn, NY is between $35k-100k. Most families are single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
18%
<35k
54%
35k-100k
22%
100k-200k
6%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
35%
Single, No Kids
19%
Single, with Kids
24%
Married, No Kids
22%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
10%
<11 yrs old
7%
12-17 yrs old
26%
18-34 yrs old
42%
35-64 yrs old
15%
65+ yrs old
What do the neighbors do for fun?
Men's Tennis
Art Museums- Tennis
Where do the neighbors shop?
Nordstrom Rack
Bloomingdales
Crate & Barrel
Where do the neighbors go to eat?
The Cheesecake Factory
Starbucks
Chipotle
What do the neighbors drive?
Volvo
Audi
BMW
What do the neighbors listen to?
News
Rhythmic Contemporary Hits
Jazz
All data provided by Home Junction and Claritas
Similar homes for sale
This home is located at 1115 40th St in Brooklyn, NY and zip code 11210 in the Flatlands neighborhood. This 3,576 square foot home was built in 1920. Features: 11 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since April 30, 2025 and is currently priced at $2,600,000.
Brooklyn, NY housing market in April 2025 saw over 38 listings sold above listed price, more than 194 sold at listed price and over 146 sold below. Between March and April 2025, Brooklyn, NY real estate market has seen increase in the number of listings by 2.3%. While the average time on the market in April 2025 was 121 days, the median list price was $994,292.
From Rocket Homes Real Estate and based on county public records data.