234 Powers St Brooklyn, NY 11211

Property Details for 234 Powers St

Year built

1920

Lot size

0.04 lot acres

Property size

4,290 SF

Zone code

R6B

Property type

Apartment buildings

APN

02784-0012

APU

27840012

Description

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.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9415

Latitude

40.7124

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments