Triplex with Backyard and
For Sale
$949,000
2351 E 70th Street, Brooklyn, NY 11234
Residential, Triplex, Brooklyn, NY
Property Size1,998 SF
Lot Size0.06 Acres
Price / SF$474.97
Days on Market67
Property Features for 2351 E 70th Street
General Information
Property type
Residential
Property subtype
Triplex
Zoning
R3-1
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Rooms
Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Patio and Porch features
Porch
Interior features
A/C Unit, Central Air, Dishwasher, Dryer, Fireplace, Microwave, Porch, Refrigerator, Stove, Washer
Fireplace
1
Subdivision
Bergen Beach
Standard status
Active
Size
1,998 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9863
Amenities
mini split air conditioning
intercom system
custom closets
hardwood floors
remodeled kitchen
stainless steel appliances
granite countertop
backsplash
full size bar
Florida room
backyard
patio door
Building Details
Year built
1970
Flooring type
Parquet Wood, Tile
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Diamond Real Inc
(855) 774-1040
Listed By:
Iana Eganova
(718) 734-2710
Added: Jul 6
Changed: Sep 5
Last Checked: Sep 10 at 8:06AM
MLS# 502833
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 1,998-square-foot triplex was built in 1970 and sits on a 0.0585-acre lot. The interior includes three bedrooms, three bathrooms, parquet wood and tile flooring, a remodeled kitchen with wood cabinetry, stainless steel appliances, granite counters, and a matching backsplash. Additional features include mini-split air-conditioning, custom closets, an intercom system, a fireplace, washer and dryer, and a family room with a full-size bar.
Outdoor improvements include a porch, Florida room, landscaped backyard, and a two-car driveway. The property is located on E 70th Street in Brooklyn’s 11234 ZIP code, near shopping and food options, Aviator, Match Point, and Yacht Club. Zoning is R3-1.
Outdoor improvements include a porch, Florida room, landscaped backyard, and a two-car driveway. The property is located on E 70th Street in Brooklyn’s 11234 ZIP code, near shopping and food options, Aviator, Match Point, and Yacht Club. Zoning is R3-1.
Key Highlights
- 1,998‑square‑foot triplex on a 0.0585‑acre lot
- Three bedrooms and three bathrooms
- Remodeled kitchen with stainless steel appliances and granite counters
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
$69,973
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
7.37%
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%
$1,399,460
$1.4M
Cap Rate 7%
$999,614
$999.6K
Cap Rate 9%
$777,478
$777.5K
Market Conditions
NOI Build-Up for 1,998 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
$101.9K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.0K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,399,460
Cap Rate 7%
$999,614
Cap Rate 9%
$777,478
Alternative Uses
Best Use
Multifamily LT 5
$999.6K
$874.7K – $1.17M
NOI $69,973 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$871.4K
$762.5K – $1.02M
NOI $60,997 @ 7.0% cap · market cap 6.43%
Theoretical Best
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,804 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained residential property with updated kitchen finishes, multiple baths, outdoor space, and dedicated driveway parking.
Where is this triplex located?
The property is located at 2351 E 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 1,998‑square‑foot triplex on a 0.0585‑acre lot; Three bedrooms and three bathrooms; Remodeled kitchen with stainless steel appliances and granite counters
