Six-Unit Apartment
For Sale
$1,574,888
2353 81st Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size5,670 SF
Lot Size0.06 Acres
Price / SF$277.76
Days on Market49
Property Features for 2353 81st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 12, Bedroom 6, Bathroom 2, Bathroom 5, Bedroom 3, Bathroom 6, Bedroom 11, Bathroom 1, Bedroom 8, Bedroom 9, Bedroom 7, Bedroom 5, Bedroom 10, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 4
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Unfinished
Subdivision
Bensonhurst
Standard status
Active
Size
5,670 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
21118
Building Details
Year built
1923
Floors in Building
3
Flooring type
Tile, Hardwood, Ceramic
Building materials
Block
Roof type
Flat
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Anthony Parascandolo · License #2081821
(718) 690-3900
Added: Jun 25
Changed: Aug 3
Last Checked: Aug 12 at 1:06AM
MLS# 502592
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.
Apartment buildings with income potential: this R5-zoned six-unit property features six 2-bedroom, 1-bath apartments. One apartment is currently vacant, offering flexibility for an owner-occupant to live on-site while collecting rent from the remaining units, or for an investor to lease the vacant unit.
The building is constructed of block and has a flat roof. Interior features include window A/C units, a refrigerator, and a stove, with flooring that includes tile/ceramic and hardwood. The property underwent significant updates in 2014, with additional improvements completed over the years.
Built in 1923, the arrangement supports a straightforward multifamily operation with consistent unit layouts across the building. It’s well-suited for buyers seeking a maintained income-producing asset and a unit mix that can support both residency and rental income.
The building is constructed of block and has a flat roof. Interior features include window A/C units, a refrigerator, and a stove, with flooring that includes tile/ceramic and hardwood. The property underwent significant updates in 2014, with additional improvements completed over the years.
Built in 1923, the arrangement supports a straightforward multifamily operation with consistent unit layouts across the building. It’s well-suited for buyers seeking a maintained income-producing asset and a unit mix that can support both residency and rental income.
Key Highlights
- Six 2‑bedroom, 1‑bath apartments with one currently vacant unit
- R5 zoning
- Block construction with flat roof
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
$138,600
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
8.80%
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%
$2,772,000
$2.8M
Cap Rate 7%
$1,980,000
$2.0M
Cap Rate 9%
$1,540,000
$1.5M
Market Conditions
NOI Build-Up for 5,670 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
$262.0K $46.20/SF
− Vacancy
−$10.0K −$1.76/SF
EGI
$252.0K $44.44/SF
− OpEx
−$113.4K −$20.00/SF
NOI
$138.6K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$2,772,000
Cap Rate 7%
$1,980,000
Cap Rate 9%
$1,540,000
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,600 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.31M
$2.89M – $3.86M
NOI $231,532 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - R5-zoned six-unit apartment building with one currently vacant unit and updated interiors, built in 1923.
Where is this apartment building located?
The property is located at 2353 81st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,574,888.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bath apartments with one currently vacant unit; R5 zoning; Block construction with flat roof
