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Listing Courtesy of Corcoran Group
$ 5,600,000
Est. payment /mo
New
251 POWERS Street Brooklyn, NY 11211
9 Beds
9 Baths
6,260 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,260 sqft
Price per Sqft $894
Subdivision East Williamsburg
MLS Listing ID RLS20022995
Bedrooms 9
Full Baths 8
Half Baths 2
HOA Y/N No
Annual Tax Amount $11,232
Property Sub-Type Multi Family
Property Description
Prime Williamsburg Investment Property with End-use Upside : Discover a unique opportunity at 251 & 251 1/2 Powers Street, a meticulously maintained multi-family property projecting a 5.5% cap rate. This property features 7 fully-leased free-market turnkey units across a substantial 25x117 lot with 6,260 gross interior SF, presenting a compelling investment with the possibility of an owner's residence in the serene rear carriage house.
The main 3-story building (3,750 SF above-grade) comprises two well-appointed 1-bedroom floor-through apartments on the upper levels and two flexible convertible 2-bedroom / 1.5-bathroom duplexes on the ground floor. Each unit is updated with hardwood floors, efficient mini-split HVAC, and open kitchens with dishwashers. A common laundry room is conveniently located in the full-height cellar (1,250 SF).
Separated by a shared garden - presenting the option for privatization - the rear 2-story carriage house offers an ideal 3-bedroom / 2-bathroom primary residence or a high-yield rental, with the flexibility to adapt to a 4-bedroom layout. Imagine the appeal of residing in a tranquil, 1,280SF private home while benefiting from the significant income stream generated by the six consistently rented units in the front building.
Benefit from the property's excellent connectivity, with the Grand Street & Graham Avenue L train stations within easy reach, along with a variety of established restaurants and cafes on both main streets for dining and services. Residents appreciate the proximity to Cooper Park for green space and recreation. This is a prudent investment in a consistently appreciating and sustainable Brooklyn market.
The main 3-story building (3,750 SF above-grade) comprises two well-appointed 1-bedroom floor-through apartments on the upper levels and two flexible convertible 2-bedroom / 1.5-bathroom duplexes on the ground floor. Each unit is updated with hardwood floors, efficient mini-split HVAC, and open kitchens with dishwashers. A common laundry room is conveniently located in the full-height cellar (1,250 SF).
Separated by a shared garden - presenting the option for privatization - the rear 2-story carriage house offers an ideal 3-bedroom / 2-bathroom primary residence or a high-yield rental, with the flexibility to adapt to a 4-bedroom layout. Imagine the appeal of residing in a tranquil, 1,280SF private home while benefiting from the significant income stream generated by the six consistently rented units in the front building.
Benefit from the property's excellent connectivity, with the Grand Street & Graham Avenue L train stations within easy reach, along with a variety of established restaurants and cafes on both main streets for dining and services. Residents appreciate the proximity to Cooper Park for green space and recreation. This is a prudent investment in a consistently appreciating and sustainable Brooklyn market.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Cooling Other
Fireplace No
Laundry Building Other
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Townhouse
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $936
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by Renee Lee