Listed by Matthews
$9,850,000
372 Saint Johns Place
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,435
Net Rentable (SqFt) 13,400
Units 19
Cap Rate 6.15%
NOI $605,727
Occupancy 100%
Tenancy Multi
Price per SqFt $638
Class A
Buildings 1
Lot Size (SqFt) 5,000
Zoning R7A
Investment Type Stabilized
Sale Condition N/A
19-Unit Renovated Multifamily in Prime Prospect Heights, 90% Free Market
Investment highlights
- Scale With Efficiency: 50’ x 83’ walk-up building with 19 residential units(2X-3BR/2BTH | 9X-3BR/1BTH | 5X-2BR/1BTH | 3X-1BR/1BTH), averaging approximately 700 SF per apartment.
- 90% Free Market: 17 units are fully free market, 2 units are rent stabilized (one of which has legal rent of $3,190, roughly in line with market).
- Renovated With High-End Finishes: 18 of the 19 units are fully renovated with high-end appliances and fixtures, and have in-unit laundry
- Significant Light & Air: Ample windows, southern exposure, and large air shafts provide excellent light and air, allowing for bright and efficient apartment layouts
- Transit Oriented Location: The 2 & 3 trains are just two blocks away at Eastern Parkway – Brooklyn Museum stop, with access to Midtown Manhattan within 20 minutes.
- Desirable Location: Close proximity to premier retail, restaurants, and local attractions, including Prospect Park, Grand Army Plaza, Brooklyn Library, Prospect Park Zoo, and the Brooklyn Botanical Garden
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$605,727.00
$50,477.25/mo
Valuation Metrics
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DSCR
6.15%
Cap Rate
6.15%
ROI
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