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About the Listing 334 - 34779,65301
Introducing a rare, multifamily investment opportunity to acquire a 6,328 SF, 8-unit building in the heart of the Crown Heights North Historic District, one of Brooklyn's most desirable and supply-constrained neighborhoods. This four-story building comprises five (5) free-market units and three (3) rent-stabilized units, offering investors a compelling combination of in-place cash flow and future value-add potential. The property's Landmark District designation enhances its long-term appeal by protecting and preserving the area's historic charm, enduring demand, and long-term value. The asset offers significant upside, with approximately $213,363 in annual gross income, and documented legal and projected rent roll totaling $308,319 annually, creating a compelling value-add opportunity. Investors have the potential to realize more than $94,000 in additional annual revenue. This gap presents an opportunity to increase revenue by more than 44 Percent, driven by lease turnover, market rent alignment/optimization and vacancy recovery. At the asking price, the offering presents favorable acquisition metrics, including:
- 8.3 Percent Cap Rate based on Projected NOI
- 12.2x Multiple on Potential Gross Income
- $399 Per Square Foot
- Landmarked Crown Heights North Historic District, one of Brooklyn's most established residential enclaves
- 8-unit multifamily asset; (5) free-market; (3) rent-stabilized
- Favorable operating profile with low annual property taxes of approximately $14,814
- Annual Gross Income: $213,363
- Projected Rent Roll: $308,319
- Significant revenue growth potential supported by legal rents materially above current in-place income
- Immediate and near-term income growth potential through vacancy recovery and free-market unit turnover
- Strong transportation connectivity and access to neighborhood retail and cultural amenities
- High-demand neighborhood positioned to benefit from continued investment
- Ideal acquisition for private investors, asset managers, and multifamily operators seeking a combination of current yield, income growth, and long-term value creation
Listing Highlights
Interior Details
- Bedrooms: 22
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Smoke Free,Building Yes,No,Pets Allowed
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 107.00x25.00
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $2,400
- Taxes w/Assessments: N/A
- Tax/Property ID: 01209-0035
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
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1448 Pacific St New York, NY 11216
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