Renovated Triplex Multifamily
For Sale
Contact for pricing
1109 Jefferson Ave, Brooklyn, NY 11221
Fully renovated three-apartment building with modern interiors, tenant-paid utilities, and individually controlled heating and air conditioning.
Property Size3,500 SF
Price / SF$607.14
Days on Market189
Property Features for 1109 Jefferson Ave
General Information
Standard status
Active
Size
3,500 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
in-unit washer/dryer
Bluetooth speaker systems
virtual assistant security intercoms
Building Details
Year Renovated
2023
Buildings
1
Stories
3
Units
3
Listing Agency:
Realstreet Real Estate Group
Listed By:
Shlomo Malamud
Source:
Crexi
Added: Feb 25
Changed: Aug 29
Last Checked: Aug 31 at 5:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realstreet Real Estate Group
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential apartments with 12 bedrooms, 4 full bathrooms, and 2 half bathrooms across 3,500 square feet, including a finished cellar. Apartment interiors feature open layouts, shaker cabinetry, Quartz Carrara countertops, stainless steel appliances, wide-plank white oak flooring, recessed LED lighting, high ceilings, and oversized windows. Each unit also includes an in-unit washer and dryer, Bluetooth speaker systems, and a virtual assistant security intercom.
The property is 100% occupied, with units leased at full market rents. Separately metered split-system heating and air conditioning serve each apartment, while tenants pay their own gas and electric utilities. The building is located at 1109 Jefferson Ave in Brooklyn, near the J/Z trains and the restaurants, cafés, retail, and nightlife along Broadway and Bushwick Avenue.
The property is 100% occupied, with units leased at full market rents. Separately metered split-system heating and air conditioning serve each apartment, while tenants pay their own gas and electric utilities. The building is located at 1109 Jefferson Ave in Brooklyn, near the J/Z trains and the restaurants, cafés, retail, and nightlife along Broadway and Bushwick Avenue.
Key Highlights
- Three residential apartments with 12 bedrooms, 4 full bathrooms, and 2 half bathrooms
- 3,500 SF building with a finished cellar
- 100% occupied with units leased at full market rents
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
$122,576
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
5.77%
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%
$2,451,520
$2.5M
Cap Rate 7%
$1,751,086
$1.8M
Cap Rate 9%
$1,361,956
$1.4M
Market Conditions
NOI Build-Up for 3,500 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
$178.5K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$175.1K $50.03/SF
− OpEx
−$52.5K −$15.01/SF
NOI
$122.6K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,451,520
Cap Rate 7%
$1,751,086
Cap Rate 9%
$1,361,956
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,576 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $106,851 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.38M
NOI $202,860 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 - Fully renovated three-apartment building with modern interiors, tenant-paid utilities, and individually controlled heating and air conditioning.
Where is this triplex located?
The property is located at 1109 Jefferson Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: Three residential apartments with 12 bedrooms, 4 full bathrooms, and 2 half bathrooms; 3,500 SF building with a finished cellar; 100% occupied with units leased at full market rents
