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Type:
Multifamily
Sq Ft:
15,435
Units:
Property Description
Investment Property Realty Group, LLC is excited to present the offering memorandum for 372 St. Johns Place in the vibrant neighborhood of Prospect Heights, Brooklyn. This five-story building features 19 residential units, 17 of which are deregulated, offering investors a stable income stream with additional upside potential.
Property Highlights:
• Full Renovation (2017): The building underwent extensive renovations, including the addition of a fifth floor, modernizing
its appeal and maximizing space.
• In-Unit Amenities: Each apartment is equipped with a washer, dryer, and dishwasher, appealing to today’s renter
demands.
• Value-Add Opportunity: With two current vacancies, fully renting the building would result in a 6.18% cap rate at the
asking price and additional upside in the rent roll.
372 St. Johns Place presents a rare investment opportunity in one of Brooklyn’s most desirable areas.
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Block & Lot:
01176-0020
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Neighborhood:
Prospect Heights
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Cross Streets:
Underhill Rd & Washington Ave
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Building Dimensions:
50 ft x 84 ft
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Lot Dimensions:
50 ft x 100 ft
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Units:
19
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Total Approx. SF:
15,435
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Zoning:
R7a
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FAR:
4.0
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Tax Class:
2
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