Brooklyn Multifamily Investment
For Sale
$1,399,000
438 60th Street, Brooklyn, NY 11220
Six-unit building in Sunset Park, near transportation and amenities.
Property Size3,600 SF
Price / SF$388.61
Days on Market591
Property Features for 438 60th Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$13,257
Listing Agency:
Pullini Realty Corp
Listed By:
Lisa Pullini · License #10311200451
(718) 621-1446
Source:
Exitrealty
Added: Mar 9, 2025
Changed: Oct 11
Last Checked: Oct 11 at 3:43AM
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 Pullini Realty Corp
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Investment Insights
Based on property information with market context.
This is a six-family dwelling unit located in Sunset Park, Brooklyn. The property is a legal six-family building, with each unit featuring two bedrooms and one bathroom. The location provides convenient access to shopping, restaurants, and transportation. Nearby transportation options include the R, D, and N trains at the 59th Street stop, as well as the B9 bus at the 60th Street and 4th Avenue stop and the B9 bus at the 60th Street and 5th Avenue stop. The Brooklyn Army Terminal and NYU Langone Hospital are located in close proximity to the property. Several schools are located nearby, including Sunset Park School Health, P.S. 503 the School of Discovery, Sunset School of Cultural Learning, Magical Years early childhood daycare center, Public School 310, P.S. 169 Sunset Park and Pre-School of America. This property presents an investment opportunity.
Key Highlights
- Legal 6‑family dwelling unit, ideal for investors.
- All units are 2‑bedroom, 1‑bathroom configurations.
- Prime location in Sunset Park, Brooklyn.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,000
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,920,000
$1.9M
Cap Rate 7%
$1,371,429
$1.4M
Cap Rate 9%
$1,066,667
$1.1M
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$181.4K $50.40/SF
− Vacancy
−$6.9K −$1.92/SF
EGI
$174.5K $48.48/SF
− OpEx
−$78.5K −$21.82/SF
NOI
$96.0K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,920,000
Cap Rate 7%
$1,371,429
Cap Rate 9%
$1,066,667
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,000 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,365 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
6,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit building in Sunset Park, near transportation and amenities.
Where is this apartment building located?
The property is located at 438 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Legal 6‑family dwelling unit, ideal for investors.; All units are 2‑bedroom, 1‑bathroom configurations.; Prime location in Sunset Park, Brooklyn.
