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 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.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by East Egg Realty.