Borough Park Four-Family
For Sale
$2,500,000
Pending
1551 39th Street 4, Brooklyn, NY 11218
Four-family home in desirable location with income potential.
Property Size3,256 SF
Days on Market536
Property Features for 1551 39th Street 4
General Information
Standard status
Pending
Size
3,256 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,787
Building Details
Year Built
1930
Listing Agency:
Real Broker NY LLC
(718) 256-4000
Listed By:
Ichok Landau
(718) 269-4598
Source:
Exitrealty
Added: Apr 22, 2025
Changed: Sep 11
Last Checked: Sep 15 at 5:00AM
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 NY 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 / Yr
$114,031
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 Street 4 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.
