Brooklyn Multifamily Investment
396 SHEPHERD AVE, Brooklyn, NY 11208
- Added:
- May 4, 2026
- Days on Market:
- 31
- Last Refresh:
- Jun 3 at 10:06 am
Property Features for 396 SHEPHERD AVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement, Kitchen
- Parking features
- Garage
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 5,670 SF
Taxes and HOA fees
- Tax Annual Amount
- 297
Building Details
- Year built
- 2021
- Year renovated
- 2021
- Floors in Building
- 4
- Architectural style
- Other
Listing agent NINA SABAG (855) 305-3325
Listing office 5 BORO REALTY CORP 2153 UTICA AVE, BROOKLYN, NY (917) 705-0005
Listing date May 4, 2026
MLS# 11738869
Listing URL
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.
HighLights
- Fully occupied 7‑unit building provides immediate and stable cash flow.
- New construction (2021) minimizes near‑term capital improvement needs.
- Strong annual gross income of $188,966.
- Turnkey investment opportunity in a growing Brooklyn neighborhood.
- All units are modern one‑bedroom apartments with contemporary finishes.
- Low‑maintenance asset built to high standards.
Overview
Located in Brooklyn, the property at 396 Shepherd Avenue presents a newly constructed, turnkey investment opportunity. This modern building features seven one-bedroom apartments, designed to meet rental demand with efficient layouts and contemporary finishes. The property is fully occupied, offering immediate and stable cash flow with an annual gross income of $188,966. Constructed to high standards, this building is suited for investors seeking long-term appreciation and consistent returns. The new construction eliminates the need for near-term capital improvements, allowing for a passive investment experience. This property represents an opportunity to acquire a stabilized, income-producing asset in a thriving location. The property size is 5670 square feet.
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 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,854 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.88126
- Latitude
- 40.674926
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - New 7-unit building with immediate income in Brooklyn.
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 $2,499,000.
What are key features of this property?
This property features: Fully occupied 7‑unit building provides immediate and stable cash flow.; New construction (2021) minimizes near‑term capital improvement needs.; Strong annual gross income of $188,966.
