$2,499,000
Updated 6 years ago
Off Market

278 Devoe Street

East Williamsburg, Brooklyn | Judge Street & Olive Street

20 Rooms10 Beds9 Baths6,000 Square FeetIncome Property

$2,499,000
floors / apts3 / 8
Lot Size25'x125'
Built Size25'x55'
ZoneR6B
Building TypeLow-Rise
RE Taxes$9,307
Price Per SF
$417

Building Amenities

  • Courtyard

Property Description for 278 Devoe Street

THIS IS YOUR CHANCE TO OWN A HIGH INCOME PRODUCING PROPERTY WITH 2 SEPARATE STRUCTURES BUILT ON ONE OVERSIZED 25' X 125' LOT IN ONE OF BROOKLYN'S HOTTEST AND MOST DESIRABLE NEIGHBORHOODS! IN TOTAL THIS IS AN 8 FAMILY PLUS OFFICE SPACE WHICH IS SPLIT INTO 2 BUILDINGS. THE STRUCTURE IN THE FRONT IS A FIVE FAMILY PLUS OFFICE IN A 3 STORY BUILDING WITH OFFICE SPACE AND 1BR APARTMENT ON THE FIRST FLOOR, TWO 2BR APARTMENTS ON THE SECOND FLOOR AND TWO 2BR APARTMENTS ON THE THIRD FLOOR. 1ST FLOOR OFFICE AND 1BR ARE CURRENTLY VACANT MAKING IT PERFECT FOR AN END USER LOOKING FOR LIVING AND WORK SPACE WHILE COLLECTING A HANDSOME RENT ROLL. THE STRUCTURE IN THE REAR IS ANOTHER 3 STORY BUILDING WITH 3 LARGE 1BR APARTMENTS THAT INCLUDE 3 SEPARATE BOILERS FOR EACH UNIT. THE 2 STRUCTURES ARE SEPARATED BY A CONVENIENT COMMON COURTYARD IN THE MIDDLE FOR SHARED OUTDOOR SPACE. YOU WILL ENJOY UPGRADED ELECTRIC AND UPGRADED HEATING SYSTEMS IN THIS RARE TURN-KEY REAL ESTATE OPPORTUNITY. THIS WILLIAMSBURG / BUSHWICK LOCATION IS RED HOT AND HIGHLY DESIRABLE, JUST 4 BLOCKS FROM THE POPULAR GRAHAM AVE L TRAIN STOP - ONLY 9MIN INTO THE CITY!! ENJOY TONS OF RESTAURANTS, CAFES, NIGHTLIFE AND EVENT SPACES THAT THIS NEIGHBORHOOD IS RENOWNED FOR. DON'T MISS THIS ONCE IN A LIFETIME SHOT, WON'T LAST!! SELLER IS MOTIVATED AND READY TO HEAR ALL OFFERS!!

Rent Roll: 1st Fl. Fr. Vacant $0 2L $1,100 2R $1,900 3R $442 3L $525 Apt. RH1 $1,500 Apt. RH2 $1,500 Apt. RH3 $1,500

Listing History for 278 Devoe Street

Now
11/03/2020
$2,499,000
Initial Price by Vito Angelo
RE/MAX Real Estate Professionals
Launch

Building Details for 278 Devoe Street

OwnershipIncome Property
Building TypeLow-Rise
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts3/8
Learn More About the Building

Transit and Citi Bike

Subway

Grand St
0.13 miles
Graham Av
0.25 miles
Montrose Av
0.4 miles

Citi Bike

Powers St & Olive St
0.03 miles
Bushwick Ave & Powers St
0.11 miles

Contact Agents

Contact Agents

Vito Angelo
RE/MAX Real Estate Professionals
Billy Apter
RE/MAX Real Estate Professionals

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: 80044TH