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1545 Pacific Street
Crown Heights, Brooklyn | Troy Ave & Albany Ave
7 Baths2,990 Square FeetMulti-Family
$1,575,000
floors / apts4 / 7
Lot Size19'x100'
Built Size19'x45'
ZoneR6
Building TypeTownhouse
RE Taxes$11,262
Price Per SF
$527
Outdoor space and views
- South Exposure
Building Amenities
- Voice Intercom
- Gated Entry
Property Description for 1545 Pacific Street
1545 Pacific Street | 7-Unit Rent-Stabilized Brownstone | 9.98% Stabilized Cap
Marketing description
eXp Realty is pleased to present 1545 Pacific Street, a well-positioned 7-unit rent-stabilized brownstone in Brooklyn’s Crown Heights neighborhood, offered at $1,600,000.
The property presents an attractive opportunity for investors seeking strong existing income combined with immediate upside. Five apartments are currently occupied at rents that are relatively close to their registered levels, while two apartments—Garden/1G and 3B—are intentionally being held vacant for the incoming purchaser, providing the new owner with flexibility upon acquisition.
The 2025 DHCR registration reflects legal registered rents of $2,450.74/month for Garden/1G and $2,668.75/month for 3B. Including these legal rents in the stabilized rent roll results in approximately $186,942 in annual gross rental income, an estimated $159,684 NOI, and an attractive 9.98% stabilized cap rate at the $1.6M asking price.
The property benefits from relatively low operating expenses, including annual real estate taxes of approximately $11,262 and insurance of approximately $3,600. Ownership currently reports approximately $9,096 annually for water, electric and gas combined. An incoming investor may have an additional opportunity to increase NOI by separating electric and gas and shifting individual usage to tenants, subject to all applicable rent-stabilization, utility and regulatory requirements.
The building offers classic Brooklyn brownstone character, with apartments featuring details such as exposed brick, hardwood flooring, high ceilings and abundant natural light. The property measures approximately 19.17' x 45' on a 19.17' x 100' lot and is situated in an R6 zoning district.
Location further strengthens the investment. The Kingston–Throop A/C subway station is only a few blocks away, providing convenient access throughout Brooklyn and into Manhattan. The property is also surrounded by the increasingly popular dining and lifestyle destinations of Crown Heights and Bed-Stuy, including Zaca Cafe, Saraghina, Trad Room, L'Antagoniste, Peaches, and numerous additional cafes, restaurants and neighborhood amenities.
Investment Highlights: 7 rent-stabilized units • 2 apartments intentionally delivered vacant • $1,600,000 asking price • approximately $186,942 stabilized annual rental income • approximately $159,684 NOI • 9.98% stabilized cap rate • $11,262 annual taxes • additional utility-separation upside • R6 zoning • classic brownstone construction • strong Crown Heights/Bed-Stuy location • convenient A/C subway access.
1545 Pacific Street represents an opportunity to acquire a high-yielding Brooklyn multifamily asset with strong stabilized income, two vacant apartments for the incoming purchaser, and additional operational upside.
Marketing description
eXp Realty is pleased to present 1545 Pacific Street, a well-positioned 7-unit rent-stabilized brownstone in Brooklyn’s Crown Heights neighborhood, offered at $1,600,000.
The property presents an attractive opportunity for investors seeking strong existing income combined with immediate upside. Five apartments are currently occupied at rents that are relatively close to their registered levels, while two apartments—Garden/1G and 3B—are intentionally being held vacant for the incoming purchaser, providing the new owner with flexibility upon acquisition.
The 2025 DHCR registration reflects legal registered rents of $2,450.74/month for Garden/1G and $2,668.75/month for 3B. Including these legal rents in the stabilized rent roll results in approximately $186,942 in annual gross rental income, an estimated $159,684 NOI, and an attractive 9.98% stabilized cap rate at the $1.6M asking price.
The property benefits from relatively low operating expenses, including annual real estate taxes of approximately $11,262 and insurance of approximately $3,600. Ownership currently reports approximately $9,096 annually for water, electric and gas combined. An incoming investor may have an additional opportunity to increase NOI by separating electric and gas and shifting individual usage to tenants, subject to all applicable rent-stabilization, utility and regulatory requirements.
The building offers classic Brooklyn brownstone character, with apartments featuring details such as exposed brick, hardwood flooring, high ceilings and abundant natural light. The property measures approximately 19.17' x 45' on a 19.17' x 100' lot and is situated in an R6 zoning district.
Location further strengthens the investment. The Kingston–Throop A/C subway station is only a few blocks away, providing convenient access throughout Brooklyn and into Manhattan. The property is also surrounded by the increasingly popular dining and lifestyle destinations of Crown Heights and Bed-Stuy, including Zaca Cafe, Saraghina, Trad Room, L'Antagoniste, Peaches, and numerous additional cafes, restaurants and neighborhood amenities.
Investment Highlights: 7 rent-stabilized units • 2 apartments intentionally delivered vacant • $1,600,000 asking price • approximately $186,942 stabilized annual rental income • approximately $159,684 NOI • 9.98% stabilized cap rate • $11,262 annual taxes • additional utility-separation upside • R6 zoning • classic brownstone construction • strong Crown Heights/Bed-Stuy location • convenient A/C subway access.
1545 Pacific Street represents an opportunity to acquire a high-yielding Brooklyn multifamily asset with strong stabilized income, two vacant apartments for the incoming purchaser, and additional operational upside.
Building Details for 1545 Pacific Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts4/7
Transit and Citi Bike
Subway
Kingston-Throop Avs
0.19 miles
Railroad
Nostrand AvenueLong Island Rail Road
0.44 miles
Citi Bike
Kingston Ave & Herkimer St
0.14 miles
Bergen St & Kingston Ave
0.14 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: 109328TH
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