Real Estate

Crown Heights Four-Family With Romanesque Arches, New Kitchens Asks $2.55 Million

This brick Crown Heights townhouse looks like it could be a sound investment property, with four renovated units in a desirable location.

Photo by Google Maps

by Chris Erikson

01/17/2018 3 minute 0

This brick Crown Heights townhouse looks like it could be a sound investment property, with four renovated units in a desirable location. That would be 644 Park Place, part of a handsome late 19th century row of red-brick buildings with Romanesque arches and an unusual crenellated roofline instead of cornices, just off Franklin Avenue.

The building measures 19 by 50, so we’re looking at just shy of 1,000 square feet per floor, allowing for three bedrooms per unit. Well, that and the diminutive size of the bedrooms allows for this.

The place isn’t overloaded with charm (and there’s little original detail inside save for a mantel in one of the bedrooms) but the units are in fine shape. Everything looks to have been recently renovated, with new kitchens that look pretty nice, though one of the two shown is pretty minuscule.

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It won’t be hard to keep these places filled in this location, and the listing promises an annual rent roll of $168,000. (Of course, it also claims the place is “steps from Prospect Park,” which is technically true, though we’re talking a lot of steps.)

The house last sold in June 2016 for $1.95 million; listed by Chaya Goldstein of BH Tal, it’s now asking $2.55 million, a slight drop from what it wanted when it hit the market with a different broker last summer. A worthy investment?

[Listing: 644 Park Place | Broker: BH Tal] GMAP