1448 Pacific Street is an eight (8) -unit, four-story building of approximately 6,328 SF in Brooklyn's landmarked Crown Heights North Historic District, now offered at an improved price of $2,449,000. The late-19th-century facade features projecting bay windows, decorative brickwork, ornate rosette detailing, and a denticulated metal cornice, preserved by the… Read More district's landmark protections. The building has five (5) free-market and three (3) rent-stabilized apartments. Most of the projected upside comes from the free-market units, which currently rent between $2,300 and $3,045 per month and are projected at $4,000 at market-rate leasing. Investment Highlights Asking price: $2,449,000 Price per square foot: $387 Unit mix: (8) units: (5) free-market, (3) rent-stabilized Occupancy: 7 of 8 units occupied; rent-stabilized unit 1L is vacant Current rent roll: $213,363 per year (includes legal rent for vacant unit 1L) Operating expenses: $65,990 (June 2025-May 2026) Current NOI: $147,373, a 6.0% cap rate on scheduled rents Projected gross income: $308,319 Projected NOI: $242,329, a 9.9% cap rate (assumes projected rents are achieved and expenses stay flat) GRM: 11.5x current, 7.9x projected Projected rent upside: $94,956 per year ($82,500 from free-market units; $12,456 from rent-stabilized units, realizable only as permitted under rent stabilization rules) Transportation: C at Kingston-Throop Avenues; A/C at Nostrand Avenue Figures are based on the owner's current rent roll and expense records. Projections are estimates; rents, occupancy, legal rents, and future expenses are subject to buyer verification. Rent roll, expenses, and Offering Memorandum available on request. Read Less
Listing Courtesy of: Anthony L Morris, Corcoran Group, 212-355-3550.
Listing Snapshot
Days Online
62
Last Updated
Property Type
MultiFamily
Beds
22
Full Baths
8
Year Built
1931
MLS Number
RLS20109673
Additional Details
Building
Built in 1931, Living area units: SquareFeet, 4 stories, Entry level: 1
Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by The Anwar Team at Compass. If you have any questions regarding the accuracy of this data, please contact us at [email protected]. Data updated:
Confirm your time
Fill in your details and we will contact you to confirm a time.