687 Saint Marks Ave

Prime Mixed-Use Investment Opportunity in the Heart of Crown Heights – 687 St. Marks Ave Welcome to 687 St. Marks Avenue, a rare and versatile mixed-use property located in the vibrant core of Crown Heights, one of Brooklyn’s most dynamic and rapidly evolving neighborhoods. This legal 7-unit rent-stabilized building offers a compelling blend of residential and commercial income potential, making it an ideal opportunity for investors seeking a stable, long-term asset in a high-demand market. The property features seven residential units, comprised of five studio apartments and two one-bedroom units, along with a dedicated commercial/office space at the front, perfectly positioned for visibility and foot traffic along bustling St. Marks Avenue. The layout supports multiple income streams with consistent occupancy and long-term upside. Situated in the heart of Crown Heights, you’re surrounded by a thriving mix of local cafes, restaurants, boutique shops, and cultural hotspots. Enjoy close proximity to Prospect Park, the Brooklyn Museum, and major transportation options, providing seamless access throughout Brooklyn and into Manhattan. This is a neighborhood that continues to see strong growth, consistent demand, and exciting development. Property Highlights: Legal 6-unit rent-stabilized multifamily building Mixed-use: residential + commercial/office space 5 studio units & 2 one-bedroom units Potential to be delivered vacant High-visibility location on St. Marks Ave Private showings only Don’t miss the opportunity to secure a stable, income-producing asset in one of Brooklyn’s most sought-after neighborhoods. Income & Expense Overview – 687 St. Marks Ave Current Monthly Rental Income: $7,672 Projected Annual Gross Income: $92,064 Unit Breakdown: 1R (1 Bedroom – Vacant): $1,200 2A (Studio): $750 2B (1 Bedroom): $1,400 3A (Studio): $1,030 3B (Studio): $1,080 4A (Studio): $1,242 4B (Studio): $970 Annual Operating Expenses: $26,506 Real Estate Taxes: $14,706 Insurance: $3,800 Fuel: $5,000 Other Expenses: $3,000 Net Operating Income (NOI): $65,558