$1,500,000
Updated 8 years ago
Off Market

461 Saint Johns Place

Crown Heights, Brooklyn | Classon Ave & Washington Ave

14 Rooms6 Beds6 Baths2,595 Square FeetIncome Property

$1,500,000
floors / apts3 / 6
Lot Size16'x94'
ZoneR7A
Building TypeTownhouse
RE Taxes$7,048
Price Per SF
$578

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom

Property Description for 461 Saint Johns Place

461 St Johns Place is a turn key 6 family townhouse on a gorgeous tree-lined block in Prospect Heights. It will be delivered with an in-place rent roll of $94,380 (NOI of $75K) per year, with ample upside. It is currently configured as two (2) one bedroom apartments and four (4) studio apartments. One of the units is out of stabilization, but all of them pay rents over $1000 per month. The current expenses are approximately $20K per year. This property offers an out of the box cap rate of 5% with room to grow.Additionally, this property has an FAR of 4 and could possibly be expanded.

Ideally situated on St Johns Place right off of Washington Avenue, only two blocks to the 2,3 train at The Brooklyn Museum and the 4,5 trains at Franklin Avenue. Prospect Park, Grand Army Plaza, the Brooklyn Public Library, Barclays center and excellent shopping and dining along Washington, Vanderbilt, and Franklin Avenues ensure strong growth in the short and long term. Many nearby new condo developments continue to drive the residential real estate market.

In short, this property offers a superb, turn key townhouse with an excellent rate of return on day one, with AMPLE room to grow.

Listing History for 461 Saint Johns Place

Now
09/11/2018
POM by Alexander Maroni
Douglas Elliman
06/14/2018
POM by Alexander Maroni
Douglas Elliman

Building Details for 461 Saint Johns Place

OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Eastern Pkwy-Brooklyn Museum
0.15 miles
Park Pl
0.27 miles
Botanic Garden
0.29 miles
Franklin Av-Medgar Evers College
0.31 miles
Grand Army Plaza
0.46 miles

Citi Bike

St Johns Pl & Washington Ave
0.03 miles
Sterling Pl & Classon Ave
0.12 miles

Contact Agent

Contact Agent

Alexander Maroni
Douglas Elliman

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: 72621TH