Brooklyn, NY 11221,629 Jefferson Avenue #Building
Listing Courtesy of Compass
$1,890,000
$1,890,000
Est.Price: ?

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6 BD
5 BA
3,600 SqFt

629 Jefferson Avenue #Building Brooklyn, NY 11221

Est. payment /mo
SOLD DATE : 02/28/2023

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Key Details

Sold Price $1,890,000

Property Type Multi-Family

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,600 sqft

Price per Sqft $525

Subdivision Stuyvesant Heights

MLS Listing ID OLRS-0080327

Sold Date 02/28/23

Style Prewar

Bedrooms 6

Full Baths 5

HOA Y/N No

Year Built 1910

Property Description

THE START OF SOMETHING BEAUTIFUL...

SNEAK PEEK: This is a legal 4-family in use as a 3-Family . Currently set up as Owner's 2.5Bed/3Bath Garden Triplex with Den + a 2 bed /1 bath Rental + a 2 bed /1 bath Rental. Lots of original details are still there --mantles, moldings, and wainscoting are all in tact and UNPAINTED! The full finished basement has a wet bar, full bathroom and hearth.

End Users: You'll likely want to make a few edits to the owners triplex (mainly cosmetic upgrades) but the framework is there and ready for your customization. What's great about this setup is you have lots of options.
#1: Use Parlour/ Garden /Basement as an owner's triplex + earn rental income from the 3rd and 4th floor apartments to help offset your mortgage (rental comps ~$2,500 each).
#2: Rent the garden level as a duplex with the finished basement (rental comps ~$3,500 duplex) and keep the top three floors as owners Triplex.
#3: Use Garden/Basement as an owner's duplex and rent Parlour, 3rd and 4th floor apartments to help offset your mortgage (rental comps ~$2,500 each)

Investors: A couple of edits and you have 3 floor through apartments and one duplex. There are 4 gas meters, 5 electric meters, 3 kitchens (and framework for 4th kitchen). Conservative comps show a potential for $11,00 monthly rent roll and a 6% cap rate. Or renovate the entire place --one block away, a 'well renovated' home with similar footprint and remaining details sold for $2.95Mil

With 3,600SF above grade and an additional 900SF finished den with wet bar below grade, you're looking at a total of 4,500sf of usable space. The 20' x55' backyard has runners on the sides for planting and an elevated brick platform in the rear of the garden. If you know what you are looking at, then you know you are sitting on a potential gold mine of an investment.

Delivered​​‌​​​​‌​​‌‌​‌‌​​​‌‌‌​​‌ Vacant.

Location

State NY

County Kings

Zoning R6B

Interior

Fireplace No

Exterior

Private Pool No

Building

Story 4

Others

Pets Description Building Yes, Yes

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Herman Singh

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+1(310) 625-6175

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