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    234 Powers St Brooklyn, NY 11211

    Sponsored
    For Sale
    $2,200,000

    East Williamsburg Multifamily Investment

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 6-unit apartment building, located at 234 Powers Street in the desirable East Williamsburg section of Brooklyn, NY 11211, presents a compelling investment opportunity. Built in 1920, this sturdy brick structure boasts a 18.33 ft x 78 ft footprint, totaling approximately 3,500 square feet (excluding the basement) on a 1,875 square foot lot. The building comprises four one-bedroom and two two-bedroom apartments, none of which are railroad-style. Currently, five units are vacant, offering immediate potential for rental income generation. One rent-stabilized unit on the first floor generates approximately $1,600 monthly income. The building's prime location is just half a block from the Grand Street L train, now equipped with a new elevator. Nearby amenities include the vibrant Grand Street shopping district and the eclectic charm of Graham Avenue. The property offers significant upside potential, including the possibility of connecting the first-floor front apartment with the basement to create an expansive living space with backyard access. The vacant units and the potential for condo conversion make this a highly attractive prospect for investors and developers seeking a strong return on investment in a rapidly appreciating Brooklyn neighborhood. The asking price is $2,200,000, representing a price per unit of $366,666.67. This is a rare opportunity to acquire a well-located, multi-family property with significant potential for value appreciation and rental income.

    Property Features for 234 Powers St

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Year Built
    1920
    Units
    6

    HighLights

    • Exceptional 6‑unit apartment building in desirable East Williamsburg, Brooklyn.
    • Sturdy brick structure built in 1920, approximately 3,500 square feet on a 1,875 square foot lot.
    • Four one‑bedroom and two two‑bedroom apartments (no railroad units); five units currently vacant.
    • One rent‑stabilized unit generates $1,600 monthly income.
    • Half a block from the L train (new elevator).
    • $2,200,000 asking price ($366,667 per unit).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9415733
    Latitude
    40.7124278

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    FAQs

    What type of property is this?
    Multifamily property - East Williamsburg Multifamily Investment
    Where is this multifamily property located?
    The property is located at 234 Powers St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Exceptional 6-unit apartment building in desirable East Williamsburg, Brooklyn.; Sturdy brick structure built in 1920, approximately 3,500 square feet on a 1,875 square foot lot.; Four one-bedroom and two two-bedroom apartments (no railroad units); five units currently vacant.
    Request Owner's contact information
    234 Powers St Brooklyn, NY 11211
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    Brooklyn, NY 11211
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    234 Powers St Brooklyn, NY 11211
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