Oversized Brooklyn Two-Family
251 Avenue P Brooklyn, NY 11204
For Sale
$1,850,000
MULTI_FAMILY - Brooklyn, NY
Property Size3,785 SF
Lot Size0.05 Acres
Price / SF$488.77
Days on Market87
Property Features for 251 Avenue P
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5B
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3
- Interior features
- Refrigerator, Stove
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 3,785 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11272
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Flooring type
- Parquet Wood, Hardwood, Tile
- Building materials
- Brick
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Leo Chen
(718) 382-0001
Added: May 1
Changed: Jul 25
Last Checked: Jul 26 at 8:06AM
MLS# 501020
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 oversized brick two-family home in Brooklyn features a 20x75 footprint. The interior includes a thoughtfully designed light well that brings natural light into the center of the home. Each unit features a full 3-bedroom layout and can be easily converted to 4 bedrooms. The units include spacious eat-in kitchens, separate living and dining areas, and hardwood and tile floors throughout, including classic parquet flooring. The finished lower level offers a separate entrance, a bathroom, and flexible open space. A built-in rear garage provides parking for up to 4 vehicles. The property is located on a lot of approximately 0.0505 acres.
Key Highlights
- Oversized brick 2‑family building with a 20x75 footprint
- Built in rear garage with parking for up to 4 vehicles
- Both units offer full 3‑bedroom layouts (can be converted to 4 bedrooms)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.0k | $51.00 |
| − Vacancy | −$3.7k | −$0.97 |
| EGI | $189.4k | $50.03 |
| − OpEx | −$56.8k | −$15.01 |
| NOI | $132.6k | $35.02 |
3,785 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.89M
$1.66M – $2.21M
NOI $132,557 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$1.65M
$1.44M – $1.93M
NOI $115,552 @ 7.0% cap · market cap 6.25%
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.66M
NOI $219,379 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Spacious two-family home with parking for up to four vehicles.
Where is this duplex located?
The property is located at 251 Avenue P Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Oversized brick 2‑family building with a 20x75 footprint; Built in rear garage with parking for up to 4 vehicles; Both units offer full 3‑bedroom layouts (can be converted to 4 bedrooms)
