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641 Warren Street #0
About This Property
Welcome to 641 Warren Street: a 2,400 sqft 4.5 Bedroom, 2 Bathroom single family now available in Park Slope. This wonderful 20'x40' home was carefully converted from a three family by the current owner. Upgrades included new mechanicals, plumbing, electrical, floors, stairs, windows, and walls. She maintained a keen focus on quality and practicality, while including some elements of her Japanese heritage. This versatile property is now ready to change hands and can be cosmetically revised to your unique preferences.
Beginning on the parlor level, the open kitchen features a massive 48 inch Viking range that anchors the kitchen and looks out over the dining and living rooms. The nine-foot-long Corian countertop overhangs for quick breakfasts and snacking. Bosch appliances, industrial venting, and warming drawers round out this striking kitchen.
The dining and living rooms have been built out with classic French wainscoting, tin ceiling, molding, and elegant chandelier; all exemplified with a mirrored centerpiece that is non-structural. The bedrooms are spread between the ground level and the top floor, both accompanied by large bathrooms that feature both showers and Jacuzzi soaking tubs. A traditional tea ceremony room ("Chashitsu") looks out over the garden, and is complete with tatami mats and kitchen preparation area. No interior wall in this home is load bearing.
641 Warren Street offers over 2,000 square feet of outdoor space: Off the kitchen, there is a balcony with a gas BBQ grill. There is a spiral staircase down from here to the garden, which has a healthy Japanese maple, fruiting peach and willow tree, bamboo, and much flora. A patio from the ground level looks out over the backyard. Finally, the fenced-in rooftop is accessible via pull down stairs from the top floor. Here you can enjoy peace and quiet while you dine at the picnic table or take in the summertime sun.
Located centrally on Warren Street between 5th and 4th Aves mean you will be a 15 minute commute to the Financial District, and 30 minutes to Midtown Manhattan. The Barclay's Center, Prospect Park, Trader Joe's, Whole Foods 365, and BAM are the tip of the iceberg for entertainment and neighborhood highlights. 5th Ave alone offers destinations such as Miriam, Wasan, and Briolage for restaurants; Beacon's Closet, Lulu's Toys, and R&A Bikes for shopping; and Gorilla Coffee, Clever Blend, and Hungry Ghost for Cafes.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017