$3,750,000
Updated 9 years ago
Off Market

376 Graham Ave

Williamsburg, Brooklyn | Skillman Ave & Conselyea Street

12 Beds6 Baths4,875 Square FeetRental Property

$3,750,000
floors / apts3 / 6
Lot Size25'x100'
Built Size25'x65'
ZoneR6A
Building TypeTownhouse
RE Taxes$9,300
Price Per SF
$769

Building Amenities

  • Voice Intercom

Property Description for 376 Graham Ave

A RARE INVESTMENT OPPORTUNITY ON GRAHAM AVENUE!

Located on a main retail strip in Williamsburg, this 6-family residential property has a commercial overlay as well as an additional 2,600 (approx.) buildable square feet, which make it a very versatile property and a desirable acquisition for many different types of investors and developers.

The property has heavy foot traffic as a result of being conveniently located only a few steps to the L-Train at Graham Avenue and situated amongst many fantastic restaurants, bars, supermarkets, trendy cafés and shops.

The property features a very generous footprint. The building dimensions are 25 x 65 and it sits on a 25 x 100 lot. It is currently configured as six apartments, each of which are free-market and will be delivered vacant at closing. Four of the six apartments were renovated just a few years ago. The building itself is in very good condition and has been extremely well maintained by the current owners. The boiler, water heaters, and roof are all in fairly new condition as well.

This property in its existing condition will generate approximately $200,000 in annual gross income, a CAP Rate of 5%. With a conversion of the ground floor into a retail/commercial space, the annual gross income is approximately $324,000, over a 7.5% CAP Rate. There is also 2,600 additional buildable square feet that can be utilized to really maximize the cash flow potential of this incredible property.

Please inquire ASAP for a full setup sheet, as we don’t expect this to be on the market for very long.

Building Details for 376 Graham Ave

OwnershipRental Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Graham Av
0.07 miles
Grand St
0.32 miles
Lorimer St
0.33 miles
Metropolitan Av
0.42 miles

Citi Bike

Graham Ave & Conselyea St
0.04 miles
Graham Ave & Withers St
0.1 miles

Contact Agent

Contact Agent

Ryan Serhant
Nest Seekers International

Williamsburg | Brooklyn

Quick Profile

Equal parts family-friendly and millennial haven/nightlife destination, Williamsburg offers the best of all worlds. Whether by night or by day, the ‘Burg has endless options for every type of personality and interest--which has only increasingly become the case after the neighborhood was rezoned in 2005. With the floodgate opened for more varied types of businesses, Williamsburg saw one of the highest rates of development in the past decade than any other part of Brooklyn. 

Referred to as “Little Berlin” for its late night and club-oriented nature, Williamsburg works as hard as it plays. Apart from the Clubland concentrated around Wythe Avenue, there is also a slew of offices (like 25 Kent Avenue, a sprawling eight-floor, 500,000-square foot waterfront building) and co-working spaces such as WeWork, The Yard and Green Desk that make it an ideal location for the corporate-, startup- and tech-oriented set. 

With more offices setting their sights on this part of Brooklyn, it only makes sense that more people want to live close to where they work. Apart from your average walk-up apartment, W-burg has famously become home to numerous condos along the waterfront that continue to grow and expand in concert with the businesses and corporate hubs that have entered the environment. 

Even with its many and undeniable changes, however, Williamsburg remains an arts-friendly community, particularly with regard to music and literature. While DIY spaces have come and gone, certain staples have persisted to become institutions that still provide a place for up and coming musicians to perform. On the literary front, long-standing indie bookstores like Spoonbill and Sugartown and Book Thug Nation have paved the way for others to cross the river, namely McNally Jackson Books. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 60783TH