1263 Pacific St - Apartments FOR SALE


Brooklyn, NY 11216- Crown Heights
$2,400,000 USD
718-475-4357
1263 Pacific St, Brooklyn, NY for Sale
$2,400,000 USD
Apartments - FOR SALE
1/13
null | 5.3% Cap Rate

1263 Pacific St
Brooklyn, NY 11216
Crown Heights


HIGHLIGHTS

  • 4 residential units with strong rental upside potential
  • 100% occupied with free market leases
  • Renovated townhouse comparables achieving $1,000+ per square foot
  • 1,858 SF lot with 4,275 SF building
  • Prime Crown Heights location in Brooklyn

OVERVIEW

1263 Pacific Street is a fully occupied 4-unit multifamily investment property located in the desirable Crown Heights neighborhood of Brooklyn, New York.? The building offers 4,275 square feet of residential space on an 1,858 square foot lot.? With all units currently leased on free market terms, the property presents a value-add opportunity to increase rents to market rates.? Pro forma projections show the potential to achieve a 7.2% cap rate with renovated townhouse comparables in the area commanding $1,000 per square foot and higher.? The property is zoned R6A with a maximum FAR of 3.00 and is not located within a landmark or historic district.?

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$884 USD /SF

# OF UNITS

4

PRICE/UNIT

$600,000

CAP RATE

5.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

R6A

APN/PARCEL ID

01200-0059

ASK ABOUT THIS PROPERTY

Daniel GreenblattMarcus & MillichapMore Info
718-475-4357

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Daniel GreenblattMarcus & MillichapMore Info
718-475-4357

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.