Three-Unit Triplex with Built-In
For Sale
$1,549,999
404 E 21st Street, Brooklyn, NY 11226
MULTI_FAMILY - Brooklyn, NY
Property Size3,432 SF
Lot Size0.05 Acres
Price / SF$451.63
Days on Market32
Property Features for 404 E 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A/R7A
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bathroom 2, Bathroom 5, Bedroom 3, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 4
Parking features
Garage
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Flatbush
Standard status
Active
Size
3,432 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9712
Amenities
backyard
Building Details
Year built
1999
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Exit All Seasons Realty
(718) 345-4545
Listed By:
Adebanjo Anthony Olatunji
(718) 345-4545
Added: Jul 13
Changed: Aug 3
Last Checked: Aug 13 at 1:06PM
MLS# 503032
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.
Brick three-unit (triplex) built in 1999, offering three separate apartments configured as a 3-bedroom home, a 3-bedroom apartment above, and a 2-bedroom apartment above. Kitchens feature tile flooring with an open concept living/dining room combo, and the apartments include spacious bathrooms with a bathtub/shower combo. Flooring includes hardwood and tile, and interior features include a refrigerator and stove. Each apartment has its own electric meter and a recently installed boiler, which helps support independent heating for every unit. The property also includes a spacious backyard, plus a built-in 1-car garage and 2 additional parking spaces in front. The building sits on a 0.0517-acre lot with 3,432 square feet of property size.
Located in the heart of Ditmars Park, the home is described as minutes from Flatbush Avenue with grocery stores, cafes, restaurants, shopping, and multiple lines of public transportation. It is also described as minutes from King’s Theatre, for convenient access to local entertainment and surrounding retail.
Zoned R6A/R7A, this move-in-ready three-family property is set up for separate utilities and independent boiler service across all units.
Located in the heart of Ditmars Park, the home is described as minutes from Flatbush Avenue with grocery stores, cafes, restaurants, shopping, and multiple lines of public transportation. It is also described as minutes from King’s Theatre, for convenient access to local entertainment and surrounding retail.
Zoned R6A/R7A, this move-in-ready three-family property is set up for separate utilities and independent boiler service across all units.
Key Highlights
- 0.0517‑acre lot with 3,432 SF triplex built in 1999
- Three apartments: 3‑bedroom, 3‑bedroom, and 2‑bedroom (stacked units)
- Each unit has its own electric meter and a recently installed boiler
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
$86,997
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
5.61%
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%
$1,739,940
$1.7M
Cap Rate 7%
$1,242,814
$1.2M
Cap Rate 9%
$966,633
$966.6K
Market Conditions
NOI Build-Up for 3,432 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
$129.7K $37.80/SF
− Vacancy
−$5.4K −$1.59/SF
EGI
$124.3K $36.21/SF
− OpEx
−$37.3K −$10.86/SF
NOI
$87.0K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$1,739,940
Cap Rate 7%
$1,242,814
Cap Rate 9%
$966,633
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,997 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,457 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,742 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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?
Triplex - Each unit has its own electric meter and recently installed boiler in a brick triplex.
Where is this triplex located?
The property is located at 404 E 21st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,549,999.
What are key features of this property?
This property features: 0.0517‑acre lot with 3,432 SF triplex built in 1999; Three apartments: 3‑bedroom, 3‑bedroom, and 2‑bedroom (stacked units); Each unit has its own electric meter and a recently installed boiler
