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.