Three-Family Residential
554 Central Avenue Brooklyn, NY 11207
New
For Sale
$1,900,000
MULTI_FAMILY - Brooklyn, NY
Property Size3,600 SF
Lot Size0.04 Acres
Price / SF$527.78
Days on Market5
Property Features for 554 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Basement, Bedroom 9, Bedroom 2, Bedroom 8, Bathroom 1, Dining Room, Bedroom 5, Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 6
Parking features
On Street, Open
Interior features
First Floor Bedroom, Entrance Foyer, Formal Dining, High Ceilings, Natural Woodwork, Storage, Washer/Dryer Hookup
Basement
Full, Partially Finished, Walk-Out Access
Standard status
Active
APN
03403-0034
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5260
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1910
Number of units
3
Building materials
Frame
Additional Structures
Storage
Listing Agency:
Real Broker NY LLC
(855) 450-0442
Listed By:
Eliseo Rivera
(347) 957-4588
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 27 at 4:06PM
MLS# 1029842
Copyright © 2026 OneKey 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.
554 Central Avenue is a three-family, three-story residential building offered fully vacant, providing flexibility for an owner-occupant or investor from day one. The property contains three separate residences with spacious layouts and high ceilings throughout. At approximately 3,600 square feet, the building’s interior scale supports a range of occupancy and reconfiguration approaches, including potential renovation or rental use.
Located in Bushwick along Central Avenue, the home is positioned near local restaurants, cafes, nightlife, shopping, and neighborhood businesses. Public transportation access is described as convenient to the J and L trains.
The asset is noted as zoned R6 and is positioned among the larger properties on this stretch of Central Avenue, making it a straightforward option for buyers seeking a larger, multi-unit framework in the area.
Located in Bushwick along Central Avenue, the home is positioned near local restaurants, cafes, nightlife, shopping, and neighborhood businesses. Public transportation access is described as convenient to the J and L trains.
The asset is noted as zoned R6 and is positioned among the larger properties on this stretch of Central Avenue, making it a straightforward option for buyers seeking a larger, multi-unit framework in the area.
Key Highlights
- Three‑family home with approx. 3,600 sq ft across three full stories
- Built in 1910 with frame construction and high ceilings throughout
- Interior includes first‑floor bedroom, entrance foyer, and formal dining room
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 | $183.6k | $51.00 |
| − Vacancy | −$3.5k | −$0.97 |
| EGI | $180.1k | $50.03 |
| − OpEx | −$54.0k | −$15.01 |
| NOI | $126.1k | $35.02 |
3,600 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 5.78%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-story three-family property delivered fully vacant with R6 zoning and spacious, high-ceiling interiors.
Where is this triplex located?
The property is located at 554 Central Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three‑family home with approx. 3,600 sq ft across three full stories; Built in 1910 with frame construction and high ceilings throughout; Interior includes first‑floor bedroom, entrance foyer, and formal dining room
