1997 Pacific St
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1997 Pacific St
9 Unit Apartment Building $3,350,000 ($372,222/Unit) 6.13% Cap Rate Brooklyn, NY 11233
Investment Highlights
- Corner mixed-use building consisting of Seven Apartments and Two Stores for Sale in the heart of Crown Heights neighborhood of Brooklyn.
- Property is located near Ralph Avenue [A,C] Train Station.
- Rent roll and OM upon request
- Building consists of 8,060 square feet.
- Property is also located near Utica Avenue [A,C] Train Station.
Executive Summary
Asset CRG Advisors, LLC has been exclusively retained to market 1997 Pacific Street, a nine-unit mixed-use building consisting of seven apartments and two stores in the Crown Heights neighborhood of Brooklyn.
The building is situated on the corner 2,250 square foot lot and consists of 8,060 square feet. Five out of the seven apartments have been renovated in the last few years. The property is located between Buffalo Avenue & Ralph Avenue.
The property is well positioned with great access to public transportation, located near Ralph Avenue [A,C] Train Station & Utica Avenue [A,C] Train Station. The property is also located near multiple [B47], [B15, B65], [B46] bus stations.
Ownership has set the asking price at $3,350,000.
The building is situated on the corner 2,250 square foot lot and consists of 8,060 square feet. Five out of the seven apartments have been renovated in the last few years. The property is located between Buffalo Avenue & Ralph Avenue.
The property is well positioned with great access to public transportation, located near Ralph Avenue [A,C] Train Station & Utica Avenue [A,C] Train Station. The property is also located near multiple [B47], [B15, B65], [B46] bus stations.
Ownership has set the asking price at $3,350,000.
Property Facts
| Price | $3,350,000 | Property Subtype | Apartment |
| Price Per Unit | $372,222 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.13% | Lot Size | 0.05 AC |
| Sale Conditions | 1031 Exchange | Building Size | 7,620 SF |
| Gross Rent Multiplier | 12.5 | No. Stories | 4 |
| No. Units | 9 | Year Built | 1910 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $3,350,000 |
| Price Per Unit | $372,222 |
| Sale Type | Investment |
| Cap Rate | 6.13% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 12.5 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,620 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Tub/Shower
Site Amenities
- On-Site Retail
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $2,900 | - |
| 3+1 | 1 | $3,500 | - |
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Walk Score ®
Very Walkable (87)
Transit Score ®
Rider's Paradise (99)
PROPERTY TAXES
| Parcel Number | 01339-0058 | Improvements Assessment | $328,500 |
| Land Assessment | $7,200 | Total Assessment | $335,700 |
PROPERTY TAXES
Parcel Number
01339-0058
Land Assessment
$7,200
Improvements Assessment
$328,500
Total Assessment
$335,700
zoning
| Zoning Code | R6 (R6 - Medium density residential district) |
| R6 (R6 - Medium density residential district) |
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1997 Pacific St
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