DELIVERED VACANT. 1261 Pacific Street is a huge, approximately 5000 square foot townhouse plus cellar with very tall ceilings in the most desirable part of Crown Heights North. This property is far larger than most, built 21' wide by 65' deep on three floors and 21' X 45' on the fourth floor. This is a rare opportunity to purchase a vacant building in this location for under $350 per foot. It is an SRO property but is fully ready for renovation. It will be delivered vacant with a Certificate of No Harassment. This property offers tremendous upside and could be reconfigured as an entirely class A rental building with an annual rental income of approximately $200K or could be a superb condominium conversion with an approximately $4.5 Million sell-out. Additionally, some investors may choose to operate it as a rental property with the existing SRO status and achieve a very strong rental income. With R6A zoning it may also be possible to expand to 6300 square feet. Located on well established Pacific Street, this property is very close to the A and C express trains and the LIRR at Nostrand Avenue. Ultra trendy Franklin Avenue is 1.5 blocks away and the Pacific Park/Atlantic Yards megadevelopment which includes the Barclays Center is only 6 blocks away. Must be an all cash buyer.
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