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1545 Pacific St 7 Unit Apartment Building $1,725,000 ($246,429/Unit) 7.21% Cap Rate Brooklyn, NY 11213
Investment Highlights
- Crown Heights 7-Unit Brownstone | Preferential Rents | Vacant Unit
- Located between Kingston Avenue and Albany Avenue in the Crown Heights III Historic District section of Brooklyn
Executive Summary
Cushman & Wakefield (“C&W”) has been exclusively retained to arrange the sale of 1545 Pacific Street. The property is located in the heart of Crown Heights, one block from Atlantic Avenue. This residential building comprises seven units across three stories, totaling approximately 2,990 square feet.
The building features five studio apartments and two one-bedroom units, providing an efficient and versatile unit mix well-suited to the neighborhood’s strong renter demand. The property’s Tax Class 2B designation provides meaningful protections against rapid tax increases, offering ownership a layer of financial predictability and
stability.
1545 Pacific Street benefits from an exceptional location with immediate access to Atlantic Avenue — one of Brooklyn’s premier retail corridors. The property is also within close walking distance of the A and C train lines at the Kingston-Throop Avenue station on Fulton Street. This ensures strong commuter connectivity for residents
traveling throughout the borough and beyond.
This offering represents a compelling opportunity to acquire a centrally positioned residential asset with a strong in-place cap rate of 7.21%, stable in-place income, and long-term appreciation potential in one of Brooklyn’s most sought-after and rapidly evolving neighborhoods.
The building features five studio apartments and two one-bedroom units, providing an efficient and versatile unit mix well-suited to the neighborhood’s strong renter demand. The property’s Tax Class 2B designation provides meaningful protections against rapid tax increases, offering ownership a layer of financial predictability and
stability.
1545 Pacific Street benefits from an exceptional location with immediate access to Atlantic Avenue — one of Brooklyn’s premier retail corridors. The property is also within close walking distance of the A and C train lines at the Kingston-Throop Avenue station on Fulton Street. This ensures strong commuter connectivity for residents
traveling throughout the borough and beyond.
This offering represents a compelling opportunity to acquire a centrally positioned residential asset with a strong in-place cap rate of 7.21%, stable in-place income, and long-term appreciation potential in one of Brooklyn’s most sought-after and rapidly evolving neighborhoods.
Property Facts
| Price | $1,725,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $246,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 7.21% | Building Size | 3,450 SF |
| No. Units | 7 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1879/1931 |
| Zoning | R6 - Medium density residential district | ||
| Price | $1,725,000 |
| Price Per Unit | $246,429 |
| Sale Type | Investment |
| Cap Rate | 7.21% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,450 SF |
| Average Occupancy | 85% |
| No. Stories | 4 |
| Year Built/Renovated | 1879/1931 |
| Zoning | R6 - Medium density residential district |
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 | $392,400 |
| Land Assessment | $51,750 | Total Assessment | $444,150 |
Property Taxes
Parcel Number
01204-0058
Land Assessment
$51,750
Improvements Assessment
$392,400
Total Assessment
$444,150
Contacts
-
Kieran Baker -
Dimitri Venekas -
Jon Squires -
Nick Kolbus -
Dylan Walsh -
Jeremy Stern -
Cushman & Wakefield
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