Tuesday, June 16, 2015

Carroll Gardens 2-Family Coming to Market: 155 Nelson Street




As seen first on HomeCanvasr.com pre-market, 155 Nelson Street is a cute Carroll Gardens 2-Family coming to market for $2.25M.  This 17' wide 3-story between Court Street and Clinton Street is currently used as 3 floor-thru 1BR apartments, and can be delivered vacant or with free market tenants.  Clean & stylish with many original details intact and some modern upgrades, we were really impressed with how well the house shows.







With an extension on the garden floor (washer/dryer already in place!), the house has a finished backyard deck on that level and outdoor space on the parlor level...






Wide plank floors and tin ceiling in great shape...







Our iPhone can't really keep up with more profesh' photography though...








Local brokers pointed out to us such comps as the gnarly 3-story estate sale at 546 Clinton Street which listed for $2.4M and closed for $1.75M last month to developers - and can't hold a candle to this house on Nelson Street.  We see 155 Nelson as much more suited to the end-user market than that house.  While toward the bottom rim of Carroll Gardens, 155 Nelson Street is around the corner from such coveted local destinations as Prime Meats & Frankie's 457.  And when your closest coffee shop is the adorable (& ever-expanding) curated space that is Le Petite Cafe...






...then you can't really feel like you're too off-the-beaten-path here anymore.  About equidistant to the F train at Smith & 9th and at Carroll Street, people used to fade these blocks, and now they're actually pretty sweet.  If Corcoran can move the tiny 16' wide (but decked-out) 145 Nelson Street for $2.65M last month (or over $1,300/sqft), then there are dozens of buyers who should like the value at 155 Nelson Street.  Afterall, over a dozen 2-Family properties have sold for this price or higher in the past year in Carroll Gardens.  We see 155 Nelson best used as an owner's upper duplex with garden rental covering half a millie in mortgage, but what do we know? With open houses coming soon, it'll be easy to come see for yourself.


Pro's:  totally turnkey, great rental income potential along with owner's duplex, condo alternative in BoCoCa's current market, shows great, can be delivered vacant or with tenants, no big broker commission on the scene

Con's:  doesn't Google Map well if that's all you go by, bathrooms would probably need cosmetic updating to bring inline with modern tastes, only 17' wide

Ideally:  quaint BoCoCa gem that can be easily taken to the next level


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