Borough Park Four-Family
For Sale
$2,500,000
Pending
1551 39th St, Brooklyn, NY 11218
Four-family home in desirable location with income potential.
Property Size3,256 SF
Lot Size0.04 Acres
Days on Market271
Property Features for 1551 39th St
General Information
Standard status
Pending
Size
3,256 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,787
Building Details
Building Size
3,256 SF
Year Built
1930
Stories
2
Listing Agency:
Real Broker LLC
(718) 256-4000
Listed By:
Ichok Landau
(718) 256-4000
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 9
Last Checked: Aug 24 at 9:37AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Located in Borough Park/Kensington, this four-family home presents potential for income and future development. The property features three 2-bedroom units, each equipped with a kitchen and dining room, along with one 1-bedroom unit that also includes a kitchen and dining room. A finished basement is included. The building is in good condition. The lot measures 20' x 100', while the building dimensions are 20' x 80'. Zoned R6, this property is suitable for investors, developers, or end-users. The neighboring four-family property, featuring the same configuration and zoning, is also available for sale. It can be purchased individually or as a package deal. The property offers value in a sought-after Borough Park location.
Key Highlights
- Four‑family home in a highly desirable Borough Park/Kensington location.
- Featuring three 2‑bedroom units and one 1‑bedroom unit, each with a kitchen and dining room.
- Zoned R6, offering potential for future development.
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
$114,031
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
4.56%
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%
$2,280,620
$2.3M
Cap Rate 7%
$1,629,014
$1.6M
Cap Rate 9%
$1,267,011
$1.3M
Market Conditions
NOI Build-Up for 3,256 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
$166.1K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$162.9K $50.03/SF
− OpEx
−$48.9K −$15.01/SF
NOI
$114.0K $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%
$2,280,620
Cap Rate 7%
$1,629,014
Cap Rate 9%
$1,267,011
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.43M – $1.90M
NOI $114,031 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,402 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.15M
NOI $188,718 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,938
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-family home in desirable location with income potential.
Where is this quadplex located?
The property is located at 1551 39th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑family home in a highly desirable Borough Park/Kensington location.; Featuring three 2‑bedroom units and one 1‑bedroom unit, each with a kitchen and dining room.; Zoned R6, offering potential for future development.
