Listed by IPRG Investment Property Realty Group
$1,900,000
1545 Pacific Street
Details
APN 01204-0058
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,450
Units 7
Cap Rate 6.61%
NOI $125,628
Occupancy 86%
Tenancy Vacant
Pro-Forma Cap Rate 7.78%
Pro-Forma NOI $147,781
Price per SqFt $551
Lot Size (SqFt) 1,917
Zoning R6
Investment Type Value Add
Multifamily | 7 Units | $271,429/unit
Marketing description
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.
Investment highlights
Listing Contacts
Listed by IPRG Investment Property Realty Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$125,628.00
$10,469.00/mo
Valuation Metrics
0
DSCR
6.61%
Cap Rate
6.61%
ROI
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