Presenting 413 Pacific Street, a turnkey eight-unit brownstone on a prime Boerum Hill townhouse block. Perfect for investors and end-users alike, the property has been meticulously maintained by its current owner. It thus commands a strong and consistent rent roll with seven free-market units, plus one vacant stabilized unit, currently… Read More used as the owner's office.
The quality of the building is apparent from the block. The facade is a well-maintained red brick, from which oversized south-facing windows peer over tree-lined Pacific Street. Inside, porcelain tiles line the floor, ceiling and stairs, taking you all the way up to the skylight on the top floor.
Each floor has two studio rental apartments. Immense investment was made when these units were deregulated, including renovating all the kitchens and bathrooms. The rear garden unit enjoys sole access to the 40-foot-deep back yard, where mature vegetation provides welcome shade and privacy.
For investors, the house offers a strong cap rate from day one with minimal intervention. The seven free-market units already achieve strong rents, and demand for this product is consistent and reliable.
For the end user, opportunities abound. As shown in our sample alternate plan, one could combine the two lower floors into a gracious, 1,800 square foot owner's duplex complete with private garden, while still collecting a healthy rent roll from the four free-market units above. Over 500 square feet of available FAR allows this expansion, plus the creation of a third-floor terrace -- a value-add to the rent roll. Consult your architect for the full scope of possibilities.
Showing by appointment. Virtual renderings and alternate plan for marketing purposes only. Read Less
Listing Courtesy of: Nicholas H Gavin, Compass, 212-913-9058.
Listing Snapshot
Days Online
0
Last Updated
Property Type
MultiFamily
Beds
8
Full Baths
8
Square Ft.
2,700
Year Built
1910
MLS Number
RLS20117157
Additional Details
Building
Built in 1910, Living area: 2700.0, 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:
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