180 Nevins St Brooklyn, NY 11217

This vacant four-unit brownstone at 180 Nevins Street, Brooklyn, NY 11217, presents a compelling value-add opportunity. The 4,508 square foot building, situated on a 1,838 square foot lot with a 24.5-foot frontage, offers four apartments, a mix of two- and three-bedroom units, three of which include 1.5 bathrooms. Currently vacant, this property allows for complete modernization and customization to maximize rental income. The building boasts a clean DOB and HPD profile, minimizing potential renovation hurdles. The full cellar provides ample storage and includes a washer and dryer. The property is zoned R6B and features a Net Rentable Area of 3,831 square feet. With an asking price of $3,450,000, a Net Operating Income (NOI) of $224,250, and a 6.50% cap rate, this property offers a strong return on investment. Annual property taxes are $13,210. Built in 1920, this brownstone is ideally located at the intersection of Boerum Hill and Gowanus, benefiting from the area's ongoing development and growth. The price per unit is $690,000, and the price per square foot is $765.