1677 Sterling Place, Brooklyn, NY, 11233

1677 Sterling Place Brooklyn, NY 11233

Brooklyn
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,300,000
Last Verified:
Jan 13, 2025

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Highlights

  • Three story multi-family building consisting of 6 residential units in Crown Heights.
  • The Building is fully occupied and cash flowing.
  • The building is self-managed and kept in immaculate condition.
  • Most of the units have been renovated and are well kept.
  • The building has zero open violations.
  • Building is tax class 2A and is protected from major increases.
  • Property is located near Crown Heights – Utica Avenue [3,4,5] Train Station.

Description

This 4,485-square-foot property is a fully occupied, income-generating building that has been expertly maintained under self-management. Most of the units have been updated with modern renovations and are in excellent condition, reflecting the care and attention to detail provided by the owner. With no open violations, this building offers a seamless investment opportunity. Additionally, Apartment 6 presents the possibility of being delivered vacant, offering added versatility. Ideally located between Buffalo Avenue and Ralph Avenue, the property provides outstanding access to public transportation, including the Crown Heights – Utica Avenue [3, 4, 5] train station and nearby bus routes ([B45], [B47], [B65]). Its prime location and dependable performance make it an outstanding choice for investors.

1677 Sterling Place is located in the vibrant and historic neighborhood of Crown Heights, Brooklyn, this property benefits from a prime location within Kings County. Surrounded by a rich tapestry of culture, Sterling Place offers proximity to iconic landmarks like the Brooklyn Children's Museum and the Brooklyn Botanic Garden. The area boasts a lively mix of tree-lined streets, trendy eateries, and boutique shops, seamlessly blending old-world charm with modern convenience. With excellent access to public transportation, including nearby subway lines, and a strong sense of community, this property is perfectly situated for anyone seeking the quintessential Brooklyn experience.

Building Size: 4485sq ft
Lot Size: 0 acres

Map of 1677 Sterling Place, Brooklyn, NY, 11233

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.