Renovated Three-Family
For Sale
$1,450,000
2869 W 16th Street, Brooklyn, NY 11224
Residential, Brooklyn, NY
Property Size1,300 SF
Lot Size0.05 Acres
Price / SF$1,115
Days on Market24
Property Features for 2869 W 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 7, Bedroom 8
Interior features
Laundry Area, Refrigerator, Stove
Basement
Finished
Subdivision
Coney Island
Standard status
Active
Size
1,300 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4879
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Cuie (Maggie) Wu · License #10401322631
(917) 702-8533
Added: Sep 8
Changed: Sep 28
Last Checked: Oct 1 at 5:06PM
MLS# 504302
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.
Located at 2869 W 16th Street in Brooklyn, this renovated three-family brick residence offers a clearly defined layout across its main living levels and basement. The first and second floors each contain three bedrooms, a living room, kitchen, and full bathroom. The basement adds three rooms, a kitchen, and another full bathroom. Ceramic, hardwood, and tile flooring are included, along with a laundry area, refrigerator, and stove.
The property occupies a 20 x 119 lot with an approximately 20 x 65-foot building footprint, totaling 1,300 square feet as reported. Built in 1930, it carries R6 zoning. Access to the B, D, Q, N, R, and F subway lines is minutes away, with Luna Park, the New York Aquarium, and Coney Island beach and Boardwalk also nearby.
The property occupies a 20 x 119 lot with an approximately 20 x 65-foot building footprint, totaling 1,300 square feet as reported. Built in 1930, it carries R6 zoning. Access to the B, D, Q, N, R, and F subway lines is minutes away, with Luna Park, the New York Aquarium, and Coney Island beach and Boardwalk also nearby.
Key Highlights
- Three‑family configuration with two three‑bedroom floors
- 20 x 119 lot with an approximately 20 x 65‑foot building footprint
- First and second floors each include 3 bedrooms, living room, kitchen, and full bathroom
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
$45,528
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
3.14%
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%
$910,560
$910.6K
Cap Rate 7%
$650,400
$650.4K
Cap Rate 9%
$505,867
$505.9K
Market Conditions
NOI Build-Up for 1,300 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
$66.3K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$65.0K $50.03/SF
− OpEx
−$19.5K −$15.01/SF
NOI
$45.5K $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%
$910,560
Cap Rate 7%
$650,400
Cap Rate 9%
$505,867
Alternative Uses
Best Use
Multifamily LT 5
$650.4K
$569.1K – $758.8K
NOI $45,528 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$567.0K
$496.1K – $661.5K
NOI $39,688 @ 7.0% cap · market cap 2.74%
Theoretical Best
Specialty Retail
$1.08M
$941.9K – $1.26M
NOI $75,348 @ 7.0% cap · market cap 5.20%
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
1,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
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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 - R6-zoned brick property includes two three-bedroom floors and a basement with additional rooms.
Where is this triplex located?
The property is located at 2869 W 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Three‑family configuration with two three‑bedroom floors; 20 x 119 lot with an approximately 20 x 65‑foot building footprint; First and second floors each include 3 bedrooms, living room, kitchen, and full bathroom
