955 Pacific Street | 955 Pacific St
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955 Pacific Street 955 Pacific St
3 Unit Apartment Building $3,200,000 ($1,066,667/Unit) 6.46% Cap Rate Brooklyn, NY 11238
Investment Highlights
- Three large apartments.
- Just a couple blocks from the major thoroughfares of Vanderbilt Ave and Washington Ave.
- Located in the highly desirable neighborhood of Prospect Heights
- All units renovated and ready to rent or move in.
- Abundance of restaurant, grocery, and shopping options.
- Abundance of public transportation nearby
Executive Summary
OWNER OCCUPY LOWER DUPLEX AND HAVE TWO HIGH INCOME RENTALS TO OFFSET YOUR MORTGAGE! LOW TAXES ($4103/yr)!
Completely Turnkey! Centrally Located Near Prospect Heights, Clinton Hill, Fort Greene, and Crown Heights!
955 Pacific Street is a three story brick townhouse with a unique rear studio workspace. Located at the nexus of four prime Brooklyn neighborhoods, nearby tons of transportation options, acclaimed restaurants/bars, Prospect Park, Grand Army Plaza, Barclay Center and more.
Currently configured as a three family building with owner's duplex and two high-income generating rental units. Rent out all apartments for investment, or live in the lower two units as a duplex and rent the others to substantially offset or even cover your mortgage payments.
Unit 3 has a 2 year lease, pays $5800.
Unit 2 has a 1 year lease, pays $4500.
Both units pay ALL of their own utilities.
1st Floor + Garden Floor duplex delivered VACANT.
Unit 1 Duplex (Garden Floor + 1st Floor + Rear Art Studio):
* 3 Bedrooms
* 4 Bath
* Private Rear Art Studio / Work Space
* Newly renovated
* Stainless Steel Appliances
* Summer Kitchen in lower level
* Recessed Lighting
* Split Unit Central AC/Heating
* Washer Dryer
* Low maintenance deck and patio
* Over 2000 SF interior
* Approx. 900 SF backyard
Unit 2:
* Rent: $4500/mo
* 2 Bedrooms + Bonus Office
* 1 Bath
* Newly renovated
* Stainless Steel Appliances
* Recessed Lighting
* Washer Dryer
* High Ceilings
* Lots of light
Unit 3:
* Rent: $5800/mo
* 3 Bedroom
* 2 Bath
* Newly renovated
* Stainless Steel Appliances
* Recessed Lighting
* Washer Dryer
* High Ceilings
* 2 Skylights
* Private access to walkup rooftop deck
Additional Highlights:
* Substantially lower taxes than most buildings in the neighborhood ($4103/Year)
* Delivered with two high income rentals in place with vacant duplex for owner occupant.
* ALL units have separate utility meters
* ALL units have in unit washer dryer and split unit central ac/heat
* Over 1000 SF per rental apartment, over 2000 SF for owner's duplex.
* Separate entrance for owner's duplex.
* Can be legally used as four separate rental units for a 6.4% cap rate fully rented.
Completely Turnkey! Centrally Located Near Prospect Heights, Clinton Hill, Fort Greene, and Crown Heights!
955 Pacific Street is a three story brick townhouse with a unique rear studio workspace. Located at the nexus of four prime Brooklyn neighborhoods, nearby tons of transportation options, acclaimed restaurants/bars, Prospect Park, Grand Army Plaza, Barclay Center and more.
Currently configured as a three family building with owner's duplex and two high-income generating rental units. Rent out all apartments for investment, or live in the lower two units as a duplex and rent the others to substantially offset or even cover your mortgage payments.
Unit 3 has a 2 year lease, pays $5800.
Unit 2 has a 1 year lease, pays $4500.
Both units pay ALL of their own utilities.
1st Floor + Garden Floor duplex delivered VACANT.
Unit 1 Duplex (Garden Floor + 1st Floor + Rear Art Studio):
* 3 Bedrooms
* 4 Bath
* Private Rear Art Studio / Work Space
* Newly renovated
* Stainless Steel Appliances
* Summer Kitchen in lower level
* Recessed Lighting
* Split Unit Central AC/Heating
* Washer Dryer
* Low maintenance deck and patio
* Over 2000 SF interior
* Approx. 900 SF backyard
Unit 2:
* Rent: $4500/mo
* 2 Bedrooms + Bonus Office
* 1 Bath
* Newly renovated
* Stainless Steel Appliances
* Recessed Lighting
* Washer Dryer
* High Ceilings
* Lots of light
Unit 3:
* Rent: $5800/mo
* 3 Bedroom
* 2 Bath
* Newly renovated
* Stainless Steel Appliances
* Recessed Lighting
* Washer Dryer
* High Ceilings
* 2 Skylights
* Private access to walkup rooftop deck
Additional Highlights:
* Substantially lower taxes than most buildings in the neighborhood ($4103/Year)
* Delivered with two high income rentals in place with vacant duplex for owner occupant.
* ALL units have separate utility meters
* ALL units have in unit washer dryer and split unit central ac/heat
* Over 1000 SF per rental apartment, over 2000 SF for owner's duplex.
* Separate entrance for owner's duplex.
* Can be legally used as four separate rental units for a 6.4% cap rate fully rented.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$225,400
|
$49.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$225,400
|
$49.66
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,303
|
$4.03
|
| Net Operating Income |
$207,097
|
$45.63
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $225,400 |
| Annual Per SF | $49.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $225,400 |
| Annual Per SF | $49.66 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $18,303 |
| Annual Per SF | $4.03 |
| Net Operating Income | |
|---|---|
| Annual | $207,097 |
| Annual Per SF | $45.63 |
Property Facts Under Contract
| Price | $3,200,000 | Apartment Style | Low Rise |
| Price Per Unit | $1,066,667 | Building Class | C |
| Sale Type | Investment or Owner User | Lot Size | 0.05 AC |
| Cap Rate | 6.46% | Building Size | 4,539 SF |
| No. Units | 3 | Average Occupancy | 66% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1931 |
| Price | $3,200,000 |
| Price Per Unit | $1,066,667 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.46% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,539 SF |
| Average Occupancy | 66% |
| No. Stories | 1 |
| Year Built | 1931 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Patio
Site Amenities
- Courtyard
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $4,500 | 1,100 |
| 3+4 | 1 | $8,500 | 2,000 |
| 3+2 | 1 | $5,800 | 1,100 |
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Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 01124-0054 | Improvements Assessment | $503,640 |
| Land Assessment | $69,300 | Total Assessment | $572,940 |
PROPERTY TAXES
Parcel Number
01124-0054
Land Assessment
$69,300
Improvements Assessment
$503,640
Total Assessment
$572,940
zoning
| Zoning Code | R6B (R6 - Medium density residential district) |
| R6B (R6 - Medium density residential district) |
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955 Pacific Street | 955 Pacific St
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