632 Sterling Pl, TH
Crown Heights, Brooklyn, NY 11238

$3,700,000
  • Multi Family House
  • 16 bed
  • 4 baths

Location

Map of 632 Sterling Pl, Brooklyn, NY 11238, TH

Nearby Transit
2 min Park Pl S S
4 min Franklin Ave 2 2 3 3 4 4 5 5
5 min Botanic Garden S S
Nearby Schools
3 min Brooklyn Jesuit Prep School (5-8)
6 min Carmel Christian School (K-9)
6 min Carmel Christian School (PK-8)

School data provided by GreatSchools

Description

Strong investment opportunity in one of the hottest neighborhoods in Brooklyn. Located on the Franklin Avenue corridor, right near the 2,3,4,5, & S subway lines. Plans filed to convert this into a 10 unit building. High cap rate. Once every so often, an investment opportunity comes up, offering a chance to buy into a neighborhood that is quickly becoming the most exciting place to be. Surrounded by rows of brownstones and tree lined streets, 632 Sterling Place is located right off Franklin Avenue, which is home to some of the hippest restaurants, cafes and shops in Brooklyn. Well known hot spots include the Breukelen Coffee Bar, Chavelas for brunch, Barboncino for artisanal Neapolitan style pizza, and a brand new Starbucks a few blocks away. This building, consisting of 7 units, includes a studio, a one bedroom, and 5 three bedroom apartments. The apartments are in good condition. There is also a spacious basement and very large backyard with a fresh vegetable garden. Five of the units will be delivered vacant, the other 2 are in the process of moving out. Plans were filed (approval pending) to convert this into a 10 unit building comprised of 4 one bedrooms, 1 two bedroom, & 5 three bedrooms. Seven of the ten units will have private outdoor space. This is a great opportunity for rentals or a condo conversion. Condos in the neighborhood are selling for over $900psf. Centrally located in the heart of flourishing Crown Heights, and a short distance from Prospect Park, the Brooklyn Museum of Art, Brooklyn Botanical Gardens, the kid's Museum and the Prospect Park Zoo. The building is located only moments away from Manhattan via the 2, 3, 4, 5 & S subway lines at the nearby Franklin Avenue stop. This building offers an amazing investment opportunity. The potential for growth and a strong rent roll are quickly becoming realized as this area is becoming the hottest new social scene in Brooklyn. Contact us today to arrange a private showing.

Features & Amenities

Amenities
 
  • 7 units in building
  • Built in 1906

The Building

This unit is located at 632 Sterling Pl, a apartment in Crown Heights. Built in 1906, this pre-war low rise property has 7 units.

Ownership type
apartment
Year built
1906
Style
pre-war low rise  
Stories
3 stories
Units
7 units
Listed by
  Anw1995824276 Alan Wieder Contact Agent
Brokerage
 
Source