Renovated Duplex with
For Sale
Contact for pricing
1891 Pacific Street, Brooklyn, NY 11233
Two-level residential property with separate basement access and R6 zoning in Crown Heights.
Property Size1,520 SF
Price / SF$1,085
Days on Market104
Property Features for 1891 Pacific Street
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Multifamily
Zoning
r6
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
balcony
Building Details
Year Built
1910
Year Renovated
2013
Buildings
1
Construction
brick
Listing Agency:
Landmark International Real Estate
Listed By:
Dongyue Niu · License #10401282827
(347) 870-1239
Source:
Crexi
Added: May 29
Changed: Sep 1
Last Checked: Sep 8 at 3:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Landmark International Real Estate
Investment Insights
Based on property information with market context.
This 1,520-square-foot duplex was built in 1910 and renovated throughout in 2010. The first floor includes two bedrooms, while the second floor offers three bedrooms and a balcony. The basement has its own separate entrance, adding functional flexibility to the layout.
Located in Crown Heights, the property is within walking distance of the A and C subway lines and near the 2, 3, 4, and 5 trains. Atlantic Avenue is one street away, and the property carries R6 zoning. The address is 1891 Pacific Street, Brooklyn, NY 11233.
Located in Crown Heights, the property is within walking distance of the A and C subway lines and near the 2, 3, 4, and 5 trains. Atlantic Avenue is one street away, and the property carries R6 zoning. The address is 1891 Pacific Street, Brooklyn, NY 11233.
Key Highlights
- 1,520‑square‑foot duplex renovated throughout in 2010
- Two bedrooms on the first floor and three bedrooms on the second floor
- Second‑floor balcony and basement with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,233
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,660
$1.1M
Cap Rate 7%
$760,471
$760.5K
Cap Rate 9%
$591,478
$591.5K
Market Conditions
NOI Build-Up for 1,520 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.5K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$76.0K $50.03/SF
− OpEx
−$22.8K −$15.01/SF
NOI
$53.2K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,064,660
Cap Rate 7%
$760,471
Cap Rate 9%
$591,478
Alternative Uses
Best Use
Multifamily LT 5
$760.5K
$665.4K – $887.2K
NOI $53,233 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$662.9K
$580.1K – $773.4K
NOI $46,404 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,099 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential property with separate basement access and R6 zoning in Crown Heights.
Where is this duplex located?
The property is located at 1891 Pacific Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1,520‑square‑foot duplex renovated throughout in 2010; Two bedrooms on the first floor and three bedrooms on the second floor; Second‑floor balcony and basement with separate entrance
