Five-Unit Multifamily
For Sale
$2,400,000
19 Carroll Street, Brooklyn, NY 11231
MULTI_FAMILY - Other - Brooklyn, NY
Property Size4,440 SF
Price / SF$540.54
Days on Market150
Property Features for 19 Carroll Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 5, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 1
Subdivision
Columbia Street Waterfront Dist.
High school district
000000
Standard status
Active
Size
4,440 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Udi Eliasi · License #10301200058
Added: Mar 24
Changed: Aug 16
Last Checked: Aug 20 at 3:06PM
MLS# 11679238
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building is offered as a fully-leased, income-producing multifamily property at 19 Carroll Street. The building totals approximately 4,440 square feet and is configured with a ground-floor one-bedroom that has private access, plus two apartments each on the second and third floors. The ground-floor unit has recently been completely renovated and includes a large private garden.
The property is located in the Carroll Gardens / Columbia Street Waterfront District area. The surrounding neighborhood was rezoned in 2009 to preserve the district’s character.
The layout is well-suited to owners looking for a stabilized residential income property, including the option to owner-occupy the renovated ground-floor one-bedroom while maintaining additional rental units on the upper floors.
The property is located in the Carroll Gardens / Columbia Street Waterfront District area. The surrounding neighborhood was rezoned in 2009 to preserve the district’s character.
The layout is well-suited to owners looking for a stabilized residential income property, including the option to owner-occupy the renovated ground-floor one-bedroom while maintaining additional rental units on the upper floors.
Key Highlights
- Five‑unit apartment building offered as fully‑leased
- Approximately 4,440 SF multifamily property
- Ground‑floor renovated one‑bedroom with private access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$135,549
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,710,980
$2.7M
Cap Rate 7%
$1,936,414
$1.9M
Cap Rate 9%
$1,506,100
$1.5M
Market Conditions
NOI Build-Up for 4,440 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$251.5K $56.64/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$246.5K $55.51/SF
− OpEx
−$110.9K −$24.98/SF
NOI
$135.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,710,980
Cap Rate 7%
$1,936,414
Cap Rate 9%
$1,506,100
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,549 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.68M
$3.22M – $4.29M
NOI $257,342 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building with a renovated ground-floor one-bedroom featuring private access and a large private garden.
Where is this apartment building located?
The property is located at 19 Carroll Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Five‑unit apartment building offered as fully‑leased; Approximately 4,440 SF multifamily property; Ground‑floor renovated one‑bedroom with private access
