685 Franklin Avenue, Brooklyn, NY, 11238

Address

685 Franklin Avenue, Brooklyn, NY

Listing Type

Mixed Use

Price

$ 3,200,000

Your Agent

Faig Mikayilov

Licensed Real Estate Associate Broker

Cell: 646-643-8397

Property Attributes

MLS#RLS20107412
TypeMixed Use
Listing Status Active
CountyKings
CityBrooklyn
AreaBrooklyn
NeighborhoodCrown Heights
Zip11238
Style
Year Built1910
Taxes$ 67764
Price$ 3,200,000
Bedrooms18
Full Bathrooms14
Half Bathrooms0
Sqr Footage2430

Data Source:

Real Estate Board of New York (REBNY)

Property Description

Prime Crown Hеightѕ Cornеr Aѕѕеt With Durable Incοmе аnd Βuilt‐In Upside

685 Franklin Avenue offers a rare opportunity to acquire a prominent corner mixed-use building in the heart of Crown Heights, just moments from Prospect Park.
Set on a 2,790-square-foot lot, the property comprises 14 rent-stabilized apartments, one commercial space, and one garage. The residential mix includes 2 studios, 6 one-bedrooms, and 6 two-bedrooms, providing diversified and dependable in-place income.

The commercial space is secured by a long-term lease and is undergoing a complete gut renovation, enhancing the property's value and strengthening its overall income profile. Significant capital improvements have already been completed, including a new roof and upgrades to the electrical system, gas metering, and water heaters in 2021, limiting near-term capital exposure for the next owner.

Positioned along the dynamic Franklin Avenue corridor, the property benefits from exceptional visibility, consistent tenant demand, and convenient access to the 2, 3, 4, 5, A, C, and S subway lines.

With stable cash flow, major systems already addressed, and additional income growth in motion, 685 Franklin Avenue represents a compelling opportunity to acquire a true corner asset in one of Brooklyn's most established and active investment markets.