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$5,558,000
List Price: $5,600,000
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251 Powers Street
Condo in East Williamsburg •  building info
9bd • 8ba • 6,260ft² $895 per ft²
Buy with Yoreevo

$5,558,000

List Price

$5,600,000

Key Details
Days on market
218
Last price change
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Estimated payment
$32,042/mo
Taxes
$1,010/mo
Maintenance
N/A
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 5.6% 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 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.

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Building info

History
What it'll cost
Purchase price
$5,600,000
Asking Price: $5,600,000
Term
30 Years
Down Payment
$560,000 (10%)
Min: 10% (560,000)
Rate
6.25 %
Mortgage Amount
$5,040,000
Mortgage Payment
$31,032
Common Charges
$0
Taxes
$1,010
Estimated Yoreevo rebate
$42,000
Estimated closing cost
$255,000
Total monthly cost $32,042
Buy your dream home with us and get an estimated $42,000 rebate.
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to a minimum commission.
Listing Courtesy of Corcoran Group

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