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 5.6% cap rate and over $315K net income. This property features 7 fully-leased free-market turnkey units across a substantial 25x117 lot with 6,260 gross… Read More 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. Read Less
Listing Courtesy of: Marvin Chu, Corcoran Group
Listing Snapshot
Days Online
88
Last Updated
Property Type
MultiFamily
Beds
9
Full Baths
8
Partial Baths
2
Square Ft.
6,260
Lot Size
0.07 Acres
MLS Number
RLS20022995
30 Days Snapshot Of 11211
$1.25M
-18%
(avg) sold price
13
-38%
homes sold
75
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Basement YN: t
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 17, Structure Type: Townhouse
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