$860,000
Updated 11 years ago
Sold

1561 Pacific Street

Crown Heights, Brooklyn | Albany Ave & Kingston Ave

12 Rooms9 Beds6 Baths3,717 Square FeetMulti-Family

$860,000
floors / apts3 / 3
Lot Size21'x100'
Built Size21'x59'
ZoneR6
Building TypeTownhouse
RE Taxes$348
Price Per SF
$231

This property was sold for $860,000 on 12/19/12.

Outdoor space and views

  • Backyard
  • Balcony

Building Amenities

  • Voice Intercom
  • Garden
  • Storage

Property Description for 1561 Pacific Street

> 9% CAP RATE! > Three-family, all brand new construction (2009), high income generating property in North Crown Heights. > Tree-lined street. > 21x59ft building (3,717sf above grade) with three market rate apartments all metered separately (built as condominiums). > There are two 3BR 2bath apartments with balconies and one 2BR 2bath with a full backyard. > Finished basement with three storage rooms and with laundry hookups. > 25 year tax abatement. > Tenants are in place.Current annual Income: $81,000. > Current annual expenses: $3,909 (no management fees or vacancy). > Current NOI: $77,091. > CAP rate at $850K = 9.1%.

Listing History for 1561 Pacific Street

Now
12/27/2012
$860,000
Sold and Closed by Jonah Ramu Cohen
Corcoran
10/20/2012
Contract Signed by Jonah Ramu Cohen
Corcoran

Building Details for 1561 Pacific Street

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Year Built2009
Financing Allowed90%
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Kingston-Throop Avs
0.2 miles
Utica Av
0.48 miles

Railroad

Nostrand AvenueLong Island Rail Road
0.47 miles

Citi Bike

Bergen St & Kingston Ave
0.16 miles
Kingston Ave & Herkimer St
0.16 miles

Contact Agents

Contact Agents

Paul Murphy
Corcoran

Crown Heights | Brooklyn

Quick Profile

Originally known as Crown Hill by the Lenape Indians that lived there, Crown Heights has evolved into a diverse neighborhood, occupied primarily by Hasidic Jews and one of the largest Caribbean populations to be found anywhere outside of the West Indies. 

Head over to Nostrand Avenue, one of the main West Indian commercial areas in the neighborhood, which is lined with stores that have been in those exact same places for generations, providing their goods and services to area residents. Kingston Avenue has similar commercial activities that support the Jewish community, and Franklin Avenue shows the most signs of change and gentrification, with an ever-expanding mix of yoga studios, coffee shops, and organic grocery stores that serve the influx of young professionals. No matter which of these areas you visit, you will find an interesting mix of businesses that you wouldn’t normally picture as existing side-by-side. It is all part of the cultural diversity of Crown Heights.

The neighborhood is bisected, from east to west, by Eastern Parkway, which is a beautiful, 3-mile-long boulevard lined with mature trees. This leafy oasis was designed by Frederick Law Olmsted, famed designer of Central Park, the Biltmore Estate in North Carolina, and the U. S. Capitol in Washington, D. C.

You will find a mix of low-rise apartment buildings, large middle-class elevator buildings, brownstones, and some luxury buildings. Century-old architecture stands next to modern residential developments in a visually interesting mix of styles, much as the diversity of the residents exists. People who would not normally meet and mix are forging new pathways to cultural understanding by working, living, and playing together in the same neighborhood.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 44947TH