Inquire for setup sheet and interior photos. Prime Crown Heights investment opportunity offering an eight-unit multi-family building with six free-market apartments. Spacious 2 bedroom layouts exceeding 1,000 SF and a private backyard, situated on a quiet residential block by Prospect Park and the Brooklyn Botanical Garden.
916 Prospect Pl. Overview: - Annual Income: $206,940
- Annual Operating Expenses: $43,738
- Net Operating Income (NOI): $163,203
- Cap Rate: 4.35%
- Total Units: 8 residential
- Unit Mix: 6 free-market / 2 rent-stabilized
- Building Size: 9,000 SF (max buildable 12,441 SF)
- Building Dimensions: 25' x 98'
- Lot Dimensions: 25' x 127.5
With 75% free-market apartments, the property offers an attractive opportunity for investors seeking long-term income growth. Situated in Crown Heights, the property benefits from proximity to Prospect Park, the Brooklyn Botanical Gardens, Brooklyn Museum, and the neighborhood's vibrant restaurants, cafés, and shopping. An opportunity to acquire a substantial multi-family asset with strong long-term investment potential.
914-916 Prospect Place are 2 separate buildings with a shared basement and utilities, must be sold as combined multi-parcel sale. Combined asking price: $7,500,000.
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