Turnkey 7-Unit Apartment
396 SHEPHERD AVE Brooklyn, NY 11208
396 SHEPHERD AVE, Brooklyn, NY, 11208
$2,325,000
For Sale
$2,325,000
COMMERCIAL - Brooklyn, NY
Property Size5,670 SF
Lot Size0.04 Acres
Price / SF$410.05
Days on Market79
Property Features for 396 SHEPHERD AVE
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 5,670 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 297
Building Details
- Year built
- 2021
- Floors in Building
- 4
Listing agency
5 BORO REALTY CORP
(917) 705-0005
Listed by
Nina Sabag
855-305-DEAL
Added: May 4 Updated: Jul 2 at 3:56PM Checked: Jul 21 at 8:06AM
MLS# 11738869
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.
396 Shepherd Avenue is a newly constructed, turnkey multifamily asset configured as seven one-bedroom apartments. The building is described as modern throughout with contemporary finishes, designed around efficient, practical layouts. According to the listing, the property is fully occupied.
The offering is located in Brooklyn, New York (11208). The property size is provided as 5,670 square feet, situated on a 0.0413-acre lot.
For investors or owner-operators seeking a stabilized income-producing property with a straightforward unit mix, this 7-unit apartment building provides all one-bedroom apartments under a newly built, ready-to-rent configuration. The listing notes a strong annual gross income figure and that there are no near-term capital improvement needs, supporting an operator-friendly approach from acquisition.
The offering is located in Brooklyn, New York (11208). The property size is provided as 5,670 square feet, situated on a 0.0413-acre lot.
For investors or owner-operators seeking a stabilized income-producing property with a straightforward unit mix, this 7-unit apartment building provides all one-bedroom apartments under a newly built, ready-to-rent configuration. The listing notes a strong annual gross income figure and that there are no near-term capital improvement needs, supporting an operator-friendly approach from acquisition.
Key Highlights
- Newly built 7‑unit multifamily property (Year Built: 2021)
- All units are 1‑bedroom apartments
- Property is fully occupied
Local Financial Insights For Apartment 5plus
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 | $244.9k | $43.20 |
| − Vacancy | −$9.3k | −$1.64 |
| EGI | $235.6k | $41.56 |
| − OpEx | −$106.0k | −$18.70 |
| NOI | $129.6k | $22.86 |
5,670 SF · lease $43.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,600 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,854 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Newly constructed, fully occupied 7-unit building offering all one-bedroom residences with modern finishes and low-maintenance setup.
Where is this apartment building located?
The property is located at 396 SHEPHERD AVE Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,325,000.
What are key features of this property?
This property features: Newly built 7‑unit multifamily property (Year Built: 2021); All units are 1‑bedroom apartments; Property is fully occupied
