Six-Family Residential Income
564 56th Street Brooklyn, NY 11220
For Sale
$2,080,000
MULTI_FAMILY - Brooklyn, NY
Property Size4,398 SF
Lot Size0.06 Acres
Price / SF$472.94
Days on Market15
Property Features for 564 56th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6B
- Bathrooms
- 6
- Rooms
- Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 3
- Interior features
- A/C Unit, A/C Unit - Window
- Basement
- Full
- Standard status
- Active
- Size
- 4,398 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 18335
Building Details
- Floors in Building
- 3
- Number of units
- 6
- Flooring type
- Carpet
- Building materials
- Brick
- Roof type
- Flat
Listing Agency:
Fang Fang Realty Inc
(718) 676-2518
Listed By:
XueFang (Sue) Li
(718) 676-2518
Added: Jul 10
Changed: Jul 21
Last Checked: Jul 24 at 2:06AM
MLS# 502931
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.
This six-family residential income building is configured as three stories plus a full basement. The property sits on a 26.67-by-100 lot, with building footprint dimensions noted as approximately 26.67 by 60. Four units are being delivered vacant, providing flexibility for an investor or an end user planning lease-up.
The property is located in Brooklyn, within zoning noted as R6B. Public remarks cite convenient access to transportation and nearby shopping and daily necessities, including proximity to the N, R, and W trains and the B63 bus, with commercial areas referenced along 7th Avenue and 8th Avenue.
Buyer is advised to independently verify all information. Information is deemed reliable but not guaranteed.
The property is located in Brooklyn, within zoning noted as R6B. Public remarks cite convenient access to transportation and nearby shopping and daily necessities, including proximity to the N, R, and W trains and the B63 bus, with commercial areas referenced along 7th Avenue and 8th Avenue.
Buyer is advised to independently verify all information. Information is deemed reliable but not guaranteed.
Key Highlights
- Large 6‑family building on a 26.67 x 100 lot with approximately 26.67 x 60 building size
- Three stories plus a full basement
- Brick construction with a flat roof
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 | $221.7k | $50.40 |
| − Vacancy | −$8.4k | −$1.92 |
| EGI | $213.2k | $48.48 |
| − OpEx | −$96.0k | −$21.82 |
| NOI | $117.3k | $26.67 |
4,398 SF · lease $50.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.95M
NOI $117,280 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.33M
NOI $199,578 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-family residential property with three stories plus a full basement on a 26.67-by-100 lot.
Where is this apartment building located?
The property is located at 564 56th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,080,000.
What are key features of this property?
This property features: Large 6‑family building on a 26.67 x 100 lot with approximately 26.67 x 60 building size; Three stories plus a full basement; Brick construction with a flat roof
