1602 Prospect Place

Crown Heights, Brooklyn | Buffalo Ave & Ralph Ave

7 Beds3,296 Square FeetMulti-Family

$1,300,000

floors / apts2 / 4

Lot Size25'x127'

Built Size20'x80'

ZoneR6

Building TypeTownhouse

RE Taxes$10,565

Price Per SF

$394

Property Description for 1602 Prospect Place

Welcome to 1602 Prospect Place in Crown Heights, an Investors Dream.Solid-brick, semi-detached, legal four family with private parking spots.Two level building with four income producing units, situated on a 25x128 feet lot.Approximately 3,300square feet with an additional semi-finished basement.Fantastic investment opportunity.This four family townhouse has three 2-bedroom units and one 1-bedroom. The building has many charming details throughout. The four units feature restored hardwood floors, spacious bedrooms, plenty of closet space, recently replaced kitchen appliances and kitchen cabinets, interiors with open-concept living areas. The building has been meticulously maintained, newly renovated and newly updated. (See below for a list of the most recent renovations).All tenants have expired leases and tenants are now on month to month term which presents a great investment opportunity for a buyer or investor to obtain market rent.Close access to the A, C, 4, 3 subway lines. Easy access to the LIRRUnique rent producing opportunity. Investment potential. This property will not last.List of Most Recent Work:Basement (2017 - 2020)Electric - entire basement rewired- new outlets / lights / switches/ fuse panelSealed walls Repaired concrete floor and footingsNew Crown steam boiler installed in Jan 2020New sliding basement windows all around Roofing (2016, 2020)New asphalt roofing Oct 2016Silicone roof coating Aug 2020Exterior (2018, 2019)Thorough restoration of exterior walls - new brick to replace bad sections, repointing top half, and sections around windows, new window sills Natural stone base section of wall restored and repointedAll woodwork around windows done - repaired, painted. Led flood lights installed 2019Hallway (2016, 2017)Repaired and refinished walls and ceilingsNew light fixtures Installed new front doors for 2nd floor apartmentsNew locks all apartments Apartments (2016, 2017)New kitchen cabinets in each apartment New appliances - fridges, stoves New bathroom floors and cabinets in 1F and 2F Repaired / refinished walls and ceilings Restored hardwood floors all apartments New interior doors/ locks/ hinges all apartments

Building Details for 1602 Prospect Place

OwnershipMulti-Family

Building TypeTownhouse

AgePre-War

AccessWalk-up

Year Built1910

Floors/Apts2/4

Learn More About the Building

Transit and Citi Bike

Subway

Ralph Av

0.45 miles

Citi Bike

Park Pl & Buffalo Ave

0.11 miles

St Marks Ave & Ralph Ave

0.11 miles

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: 79646TH

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