Multifamily

649 Vermont Street

649 Vermont St, Brooklyn, NY 11207

Listing Price: $1,250,000

Cap Rate
5.09%
Number of Units
5
GRM
13.02
Occupancy
97.0%
Price/Unit
$250,000
Price/Gross SF
$283.45
Gross SF
4,410

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Listing located at 649 Vermont Street. The building is a three-story brick residential building located on Vermont Street in between New Lots Avenue & Riverdale Avenue in the East New York section of Brooklyn, New York (Block: 03842; Lot: 0011). The building is built approximately 21 feet by 70 feet offering 4,410 total gross square feet and sits on a 27.67 foot by 100-foot lot.

The property is currently comprised of five residential apartments. The first-floor apartment is a floor through unit currently offering four-bedrooms and one-bathroom. Unit 1 is large enough where it can be broken up given its size. An owner can get creative where they can duplex the first-floor unit into the basement, divide the first floor in half and duplex Unit 2F which is currently a one-bedroom into the 1st floor making unit 2F larger. The Current layout offers front and back units on the second and third floor with 1-bedrooms in the front and two-bedrooms in the back, all offering one bathroom. The owner has done renovations to all units except unit 1.

In 2018 the seller spent approximately $12,000 on a new boiler, new piping as well as new chimney liner which was approximately $5,000. In addition, the seller spent about $40,000 on a gut renovation to unit 3R. Four of the five tenants are new and have 0 issues paying rent, they pay the first of every month. Seller has receipts to prove payments. In addition, The building offers parking in the back with a shared driveway.
The building is located in East New York within walking distance of "3" Train at Livonia and "L" Train at Pennsylvania Avenue.

Investment Highlights

  • Free Market Five Family
  • Brick Construction Built 21' x 70' | Approx. 4,410 Square Feet
  • Walking Distance to the "3" Train at Livonia & "L" Train at Pennsylvania

Exclusively Listed By

Listing Price: $1,250,000

Cap Rate
5.09%
Number of Units
5
GRM
13.02
Occupancy
97.0%
Price/Unit
$250,000
Price/Gross SF
$283.45
Gross SF
4,410

Investment Highlights

  • Free Market Five Family
  • Brick Construction Built 21' x 70' | Approx. 4,410 Square Feet
  • Walking Distance to the "3" Train at Livonia & "L" Train at Pennsylvania

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Listing located at 649 Vermont Street. The building is a three-story brick residential building located on Vermont Street in between New Lots Avenue & Riverdale Avenue in the East New York section of Brooklyn, New York (Block: 03842; Lot: 0011). The building is built approximately 21 feet by 70 feet offering 4,410 total gross square feet and sits on a 27.67 foot by 100-foot lot.

The property is currently comprised of five residential apartments. The first-floor apartment is a floor through unit currently offering four-bedrooms and one-bathroom. Unit 1 is large enough where it can be broken up given its size. An owner can get creative where they can duplex the first-floor unit into the basement, divide the first floor in half and duplex Unit 2F which is currently a one-bedroom into the 1st floor making unit 2F larger. The Current layout offers front and back units on the second and third floor with 1-bedrooms in the front and two-bedrooms in the back, all offering one bathroom. The owner has done renovations to all units except unit 1.

In 2018 the seller spent approximately $12,000 on a new boiler, new piping as well as new chimney liner which was approximately $5,000. In addition, the seller spent about $40,000 on a gut renovation to unit 3R. Four of the five tenants are new and have 0 issues paying rent, they pay the first of every month. Seller has receipts to prove payments. In addition, The building offers parking in the back with a shared driveway.
The building is located in East New York within walking distance of "3" Train at Livonia and "L" Train at Pennsylvania Avenue.

Exclusively Listed By

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