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1545 Pacific St 7 Unit Apartment Building $1,900,000 ($271,429/Unit) 6.61% Cap Rate Brooklyn, NY 11213
Investment Highlights
- Crown Heights 7-Unit Brownstone | Preferential Rents | Vacant Unit
- The property is built 19.17 ft. × 45 ft. and sits on a 19.17 ft. × 100 ft. lot
- The ground floor unit will be delivered vacant
- Located between Kingston Avenue and Albany Avenue in the Crown Heights III Historic District section of Brooklyn
- The building is fully rent stabilized and currently occupied with several units paying preferential rents below the legal regulated rents
- Tax Class 2B status and is located within an R6 zoning district
Executive Summary
Investment Property Realty Group (IPRG) is pleased to present 1545 Pacific Street, a seven-unit brownstone located between Kingston Avenue and Albany Avenue in the Crown Heights section of Brooklyn.
The property is built 19.17 ft. × 45 ft. and sits on a 19.17 ft. × 100 ft. lot. The building is fully rent stabilized and currently occupied with several units paying preferential rents below the legal regulated rents, providing a potential path for future rent growth. The ground floor unit will be delivered vacant.
1545 Pacific Street benefits from Tax Class 2B status and is located within an R6 zoning district. The property is also situated in the Crown Heights North III Historic District.
The property is built 19.17 ft. × 45 ft. and sits on a 19.17 ft. × 100 ft. lot. The building is fully rent stabilized and currently occupied with several units paying preferential rents below the legal regulated rents, providing a potential path for future rent growth. The ground floor unit will be delivered vacant.
1545 Pacific Street benefits from Tax Class 2B status and is located within an R6 zoning district. The property is also situated in the Crown Heights North III Historic District.
Property Facts
| Price | $1,900,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $271,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6.61% | Building Size | 3,729 SF |
| No. Units | 7 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1879/1931 |
| Zoning | R6 - R6 zoning | ||
| Price | $1,900,000 |
| Price Per Unit | $271,429 |
| Sale Type | Investment |
| Cap Rate | 6.61% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,729 SF |
| Average Occupancy | 85% |
| No. Stories | 4 |
| Year Built/Renovated | 1879/1931 |
| Zoning | R6 - R6 zoning |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
| 1+1 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01204-0058 | Improvements Assessment | $318,600 |
| Land Assessment | $51,750 | Total Assessment | $370,350 |
Property Taxes
Parcel Number
01204-0058
Land Assessment
$51,750
Improvements Assessment
$318,600
Total Assessment
$370,350
Contacts
-
Derek Bestreich -
Luke Sproviero -
Adam Lobel -
Toby Waring -
Samantha Katz -
Investment Property Realty Group
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1545 Pacific St
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