1526 Pacific St 8 Unit Apartment Building $1,795,000 ($224,375/Unit) 8.97% Cap Rate Brooklyn, NY 11213
EXECUTIVE SUMMARY
Ideal investment opportunity in the heart of Crown Heights at 1526 Pacific Street.
Great for the buyer looking for the high cap rate and the upside the area has. This rent stabilized building is an Eight unit property but currently confirmed as a 10 unit rental building. The total square footage of the property is 7.800 square feet with no such air rights or buildable capabilities. At $1,795,000.00, the current price per square foot is: $230! The current NET on this deal is $161,025.13 with a cap rate of 8.97%. Various units can be delivered vacant so capability for end user or developer with a long term play.
Rent Roll can be provided upon request and the building information is as follows:
Building Dimensions: 27 X 85
Lot Dimensions: 27 X 101.17
Zoning: R6
Great for the buyer looking for the high cap rate and the upside the area has. This rent stabilized building is an Eight unit property but currently confirmed as a 10 unit rental building. The total square footage of the property is 7.800 square feet with no such air rights or buildable capabilities. At $1,795,000.00, the current price per square foot is: $230! The current NET on this deal is $161,025.13 with a cap rate of 8.97%. Various units can be delivered vacant so capability for end user or developer with a long term play.
Rent Roll can be provided upon request and the building information is as follows:
Building Dimensions: 27 X 85
Lot Dimensions: 27 X 101.17
Zoning: R6
PROPERTY FACTS
| Price | $1,795,000 |
| Price Per Unit | $224,375 |
| Sale Type | Investment |
| Cap Rate | 8.97% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 7,800 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1931 |
UNIT AMENITIES
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+1 | 6 | - | - |
1 of 1
Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 01210-0038 | Improvements Assessment | $620,550 |
| Land Assessment | $11,250 | Total Assessment | $631,800 |
ZONING
| Zoning Code | R6 (R6 zoning districts are widely mapped in built-up, medium-density areas in Brooklyn, Queens and the Bronx.) |
