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687 Franklin Avenue
Crown Heights | Saint Marks Avenue & Prospect Place
Ownership
Income Property
Lot Size
27'x100'
Floors/Apts
4/14
Status
Active
Real Estate Taxes
[Per Annum]
$ 70,216
Building Type
Low-Rise
Year Built
1910
ASF/ASM
9,720/903
Property Description
Prime Crown Heights Corner Asset With Durable Income and Built-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.
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.
Prime Crown Heights Corner Asset With Durable Income and Built-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.
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.
Listing Courtesy of The Corcoran Group
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Apartment Features
A/C
Building Details [687 Franklin Avenue]
Ownership
Income Property
Service Level
Voice Intercom
Access
Walk-up
Block/Lot
1224/1
Zoning
R7A
Building Type
Low-Rise
Year Built
1910
Floors/Apts
4/14
Lot Size
27'x100'
Building Amenities
Garage
Mortgage Calculator in [US Dollars]
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
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Additional building data provided by On-Line Residential [OLR].
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.
Fair Housing
