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 5.5% 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
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Property Details
- Multi Family
Amenities
- Attendance: None
- Basement: Other
- Building: Green Building
- Cooling: Other
- Exterior: Private Outdoor Space Over60 Sqft
- Interior: Smoke Free
- Laundry: Building Other
- Patio: None
- Pets: Building Yes, No
- View: Other
