Building & Unit Features
Great CAP Rate!! Perfect for an investor looking to start or expand on an existing portfolio 637 Hegeman Avenue is a 2 story, mixed-use (residential and commercial) property located in the East New York neighborhood of Brooklyn. The building features three rental units, including a one bedroom apartment, a three bedroom apartment and a commercial space. Built in 1930 on an 1,800 square foot (20’ x 90’) lot, this building has the classic pre-war details found in similar properties, as well as the sturdy, brick facade. The 20’ building frontage provides enough space for a store front as well as a separate entrance for the two apartments.
On the first floor you will find a 950 square foot commercial space along with a large one bedroom apartment. The second floor apartment has three bedrooms, and spans the entire top floor. The roof is accessible through this apartment. Finally, there is a finished basement including a storage space.
Located between Bradford Street and Miller Avenue, and one block from New Lots Avenue, this building is accessible by car, train and bus. The closest subway stations are the Van Siclen Avenue 3 train stop, less than 4 blocks away, followed by the Pennsylvania Avenue 3 train stop and the New Lots 3 train stop, both 8 blocks away. There are plenty of bus options, including the B83 and the B15 only two blocks away and the B20 just 4 blocks from the property. For drivers, access is easy with major streets, highways and expressways near by. These include the Jackie Robinson Parkway, the Belt Parkway, Linden Boulevard, Pennsylvania Avenue, the Van Wyck Expressway, and more.