$899,000
Updated 7 years ago
Off Market

1685 Park Place

Crown Heights, Brooklyn | Ralph Ave & Howard Ave

10 Rooms5 Beds2.5 Baths2,970 Square FeetMulti-Family

$899,000
floors / apts3 / 2
Lot Size20'x127'
Built Size22'x45'
ZoneR6
Building TypeTownhouse
RE Taxes$4,464
Price Per SF
$303

Property Description for 1685 Park Place

Exceptional Live/Invest Opportunity offering a high income producing rental or an excellent investment property at a rare 6.44% cap ratio - take your pick! 1685 Park Place, a three story legal two family w/parking, offers (2) apartments both with spacious floor plans due to its built size of 22ft wide x 45ft deep and sits on an extraordinarily deep lot at 128 ft deep. Configured as an upper 3-bed/2-bath duplex, with the most preferred floor plan of all three bedrooms on the top floor of the duplex for maximum privacy - over a 2-bed/ 1-bath rental. Post your modest cosmetic renovation consisting of updating appliances, removal of carpeting and painting, the projected rent roll is $3,250 and $2,500 respectively for the duplex and garden rental. As if more were needed, 1685 Park Place offers legal parking with curb cut!

Email agent for set-up sheet.

Listing History for 1685 Park Place

Now
10/12/2019
TOM by Shameika Wade
Compass
09/11/2019
$899,000 [-$26,000] [2.8%]
Price Drop by Shameika Wade
Compass

Building Details for 1685 Park Place

OwnershipMulti-Family
Building TypeTownhouse
AgePost-War
AccessWalk-up
Year Built2002
Floors/Apts3/2
Learn More About the Building

Transit and Citi Bike

Subway

Ralph Av
0.47 miles

Citi Bike

Sterling Pl & Ralph Ave
0.09 miles
Prospect Pl & Howard Ave
0.1 miles

Contact Agent

Contact Agent

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: 77180TH