$1,250,000
Updated 3 years ago
Off Market

252 Melrose Street

Bushwick, Brooklyn | Wilson Street & Central Ave

24 Rooms6 Beds6 Baths4,350 Square FeetIncome Property

$1,250,000
floors / apts3 / 6
Lot Size25'x100'
Built Size25'x58'
ZoneR6
Building TypeLow-Rise
RE Taxes$7,320
Price Per SF
$287

Listing Features

  • Architectural Dtls
  • Restored Details

Outdoor space and views

  • Backyard
  • Courtyard
  • Treeline Views

Building Amenities

  • Voice Intercom
  • Backyard

Property Description for 252 Melrose Street

This is a package sale offering for two properties: 252 Melrose Street and 231 Suydam Street in the Bushwick neighborhood of Brooklyn. 252 Melrose Street is a fully attached, three story building measuring 25x58 SQFT with a full basement. The lot size is 25x100 SQFT. The zoning is R6 and the FAR is underutilized. Each building has six, rent stabilized apartments. Combined, there are twelve rentals with a gross income of $225,000 between the two properties. The occupancy rate is 83% with one vacancy in each building currently. The total purchase price for the package is $2,500,000. Please inquire for a setup sheet with the current rent rolls and expenses.

Listing History for 252 Melrose Street

Now
02/21/2024
POM by Kristen Jock
Compass
2024

Building Details for 252 Melrose Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Central Av
0.29 miles
Morgan Av
0.36 miles
Myrtle Av
0.43 miles
Jefferson St
0.5 miles

Citi Bike

Central Ave & Melrose St
0.05 miles
George St & Wilson Ave
0.09 miles

Contact Agents

Contact Agents

Bushwick | Brooklyn

Quick Profile

As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century. 

With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue. 

Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs. 

But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here). 

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: 26584TH