251 Powers St - Apartments FOR SALE


Brooklyn, NY 11211- Williamsburg
$5,600,000 USD
914-804-7091
251 Powers St, Brooklyn, NY for Sale
$5,600,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

251 Powers St
Brooklyn, NY 11211
Williamsburg


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$1,120 USD /SF

# OF UNITS

6

PRICE/UNIT

$933,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

R6

APN/PARCEL ID

02920-0044

ASK ABOUT THIS PROPERTY

Chris CavortiThe Corcoran GroupMore Info
914-804-7091

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Chris CavortiThe Corcoran GroupMore Info
914-804-7091

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.