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    1045 Sterling Pl Brooklyn, NY 11213

    Sponsored
    For Sale
    $4,700,000

    Prime Brooklyn investment opportunity. High cash flow.

    Property size:
    17,420 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 17-unit apartment building in Crown Heights, Brooklyn presents a compelling investment opportunity. Located on Sterling Place, between Brooklyn and Kingston Avenues, this four-story walk-up building boasts 17,420 square feet on a 5,750 square foot lot, zoned R6. The property features a mix of ten three-bedroom and seven two-bedroom units, with three duplex units offering over 1000 square feet of backyard space. Nine units are modernized and operate on a free market basis. Recent capital improvements include a new boiler, a security camera system, an intercom system with key fob access, and a conversion from oil to gas heating. The building enjoys strong cash flow and occupancy, with potential for further growth. Its prime location offers convenient access to the 3, A, and C subway lines, the B43 bus, and a vibrant neighborhood with numerous restaurants, cafes, bars, shops, and parks, including Brower Park. The asking price is $4,700,000, representing a price per unit of $276,471 and a price per square foot of $270. The property exhibits a current cap rate of 5.74% and a pro-forma cap rate of 6.48%. This is a rare chance to acquire a well-maintained, high-performing multifamily asset in a rapidly appreciating Brooklyn neighborhood.

    Property Features for 1045 Sterling Pl

    General Information

    Property type
    Multifamily properties
    Square Feet
    17,420 SF

    Building Details

    Buildings
    17420
    Stories
    4
    Units
    17

    HighLights

    • Prime Crown Heights location on Sterling Place, between Brooklyn & Kingston Avenues.
    • Recently renovated with new boiler, security cameras, intercom system, and gas conversion.
    • Excellent transit access: close to 3, A, C subway lines and B43 bus.
    • Strong cash flow and high occupancy with upside potential.
    • 17‑unit building (10 three‑bedroom, 7 two‑bedroom, 3 duplex units with large yards), 9 units modernized and free‑market.
    • Ten 3‑bedroom and seven 2‑bedroom units, three duplex units featuring over 1000 sq ft of private backyard space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9439513
    Latitude
    40.6724493

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    FAQs

    What type of property is this?
    Multifamily property - Prime Brooklyn investment opportunity. High cash flow.
    Where is this multifamily property located?
    The property is located at 1045 Sterling Pl Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: Prime Crown Heights location on Sterling Place, between Brooklyn & Kingston Avenues.; Recently renovated with new boiler, security cameras, intercom system, and gas conversion.; Excellent transit access: close to 3, A, C subway lines and B43 bus.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1045 Sterling Pl Brooklyn, NY 11213
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