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372 Saint Johns Pl

19 Unit Block of Flats £7,824,500 (£411,816/Unit) 6.14% Net Initial Yield Brooklyn, NY 11238

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Investment Highlights

Full Renovation (2017): The building underwent extensive renovations, including the addition of a fifth floor, modernizing its appeal and maximizing
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 ups

In-Unit Amenities: Each apartment is equipped with a washer, dryer, and dishwasher, appealing to today’s renter demands.
Proximity to the 2, 3, B, Q, 4 & 5 Subway Lines

Executive Summary

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.

372 Saint Johns Place OM (Prospect Heights)

Property Facts

Price	£7,824,500	Apartment Style	Mid Rise
Price Per Unit	£411,816	Building Class	B
Sale Type	Investment	Lot Size	0.11 AC
Net Initial Yield	6.14%	Building Size	15,435 SF
Gross Rent Multiplier	10.46	Average Occupancy	100%
No. Units	19	Number of Floors	5
Property Type	Residential	Year Built	1914
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£7,824,500
Price Per Unit	£411,816
Sale Type	Investment
Net Initial Yield	6.14%
Gross Rent Multiplier	10.46
No. Units	19
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Mid Rise
Building Class	B
Lot Size	0.11 AC
Building Size	15,435 SF
Average Occupancy	100%
Number of Floors	5
Year Built	1914
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.