$2,000,000
Updated 4 years ago
Off Market

318 Humboldt Street

East Williamsburg, Brooklyn | Ainslie Street & Powers Street

14 Beds5,000 Square FeetIncome Property

$2,000,000
floors / apts4 / 7
Lot Size25'x100'
Built Size25'x50'
ZoneR6B
Building TypeLow-Rise
RE Taxes$14,591
Price Per SF
$400

Building Amenities

  • Voice Intercom

Property Description for 318 Humboldt Street

318 Humboldt Street is a 7-unit, multifamily building located in the heart of East Williamsburg. The building has seven (7) apartments, four of which have been converted to free-market units, while three remain rent-stabilized. The apartments are a mix of the railroad and two-bedroom units. The asset offers investors both a stable cash flow with significant remaining upside. The property is situated in an ideal location on Humboldt Street between Ainslie and Powers Streets. It is around the corner from the L train stop at Grand Street. Tenants have close access to neighboring establishments that are currently popular, such as, the Meat Hook, Fortunato Brothers, and Desy’s Clam Bar. The building is also within walking distance of Morgantown, a small enclave gaining notoriety as a creative hub, with numerous new retail, office, and hotel projects in the works, as well as popular eateries and bars such as Roberta’s, Ichiran, and Forrest Point. 318 Humboldt Street offers stable cash flow along with a great opportunity to add value to the rental income. As the surrounding neighborhoods continue to transform, the location offers tremendous growth potential.

Listing History for 318 Humboldt Street

Now
06/22/2022
POM by Victor Sozio
Ariel Property Advisors
01/25/2022
Contract Signed by Victor Sozio
Ariel Property Advisors

Building Details for 318 Humboldt Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts4/7
Learn More About the Building

Transit and Citi Bike

Subway

Grand St
0.1 miles
Graham Av
0.16 miles
Montrose Av
0.37 miles
Lorimer St
0.44 miles
Metropolitan Av
0.49 miles

Citi Bike

Bushwick Ave & Powers St
0.06 miles
Graham Ave & Grand St
0.12 miles

Contact Agents

Contact Agents

Victor Sozio
Ariel Property Advisors
Sean Kelly
Ariel Property Advisors
Benjamin Vago
Ariel Property Advisors

East Williamsburg | Brooklyn

Quick Profile

East Williamsburg is a mixed industrial neighborhood in Brooklyn, with many working factories that make everything from beer and wontons to clothing and concrete. You are likely to hear screeching, pounding and the deep thump of industrial machinery throughout the day. East Williamsburg has become a haven for artists and musicians of every description, who are attracted to the large open loft spaces of the converted industrial buildings. The area has attracted a younger crowd of 20- and 30-somethings that are drawn by affordable rents and a generally lower cost of living.

There is a rich history of immigrants from Puerto Rico and Italy, and oddly enough, they chose to settle on opposite ends of Graham Avenue, with the Italians on the north and the Puerto Ricans on the south.

Housing in the area consists of mid-rise apartment buildings, row houses, and public housing complexes. There are also smaller multi-family apartment buildings available. Lofts are becoming more prevalent as the older, abandoned factory buildings come up for sale and are converted into residential properties. 

East Williamsburgfairly pulses with a creative vibe. There are unique shopping venues, numerous tiny coffee shops, interesting restaurants, and cafes, along with food trucks that frequent the area. The grocery stores are affordable and carry a wide variety of goods that appeal to the eclectic tastes of the neighborhood residents.

There is a vibrant bar scene, where you will find mostly local residents imbibing, so it is easy to make friends among your neighbors if you stop in frequently at your favorite watering hole. There are many interesting shops, bars and restaurants tucked in amongst the warehouses and factories. Many do not invest in elaborate signage, so it can be difficult to find some of the best spots. Keep an eye out for hand-painted signs on the sides of buildings with arrows pointing to nondescript, nearly invisible entrances.

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: 65827TH