Brooklyn Multifamily Property For
1359 Albany Avenue Brooklyn, NY 11203
For Sale
$650,000
Pending
Vacant multifamily property in Brooklyn, easy access for viewing.
Property Size1,316 SF
Lot Size0.04 Acres
Days on Market677
Property Features for 1359 Albany Avenue
General Information
- Standard status
- Pending
- Size
- 1,316 SF
- Lot size
- 0.04 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing Agency:
Victoria Stennett Realty Corp.
(718) 434-5845
Listed By:
Victoria Stennett-Bailey
(718) 434-5845
Source:
Exitrealty
Added: Sep 16, 2024
Changed: Jul 6
Last Checked: Jul 24 at 5:25AM
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 Victoria Stennett Realty Corp.
Investment Insights
Based on property information with market context.
This multifamily property, located in Brooklyn, New York, offers 1,316 square feet of space. The property is currently vacant and accessible via keypad.
Key Highlights
- Vacant property ready for your vision.
- Easy access via keypad for convenient entry.
- Built in 1920.
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 | $74.5k | $56.64 |
| − Vacancy | −$1.5k | −$1.13 |
| EGI | $73.0k | $55.51 |
| − OpEx | −$32.9k | −$24.98 |
| NOI | $40.2k | $30.53 |
1,316 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.09M
$953.4K – $1.27M
NOI $76,275 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Vacant multifamily property in Brooklyn, easy access for viewing.
Where is this multifamily property located?
The property is located at 1359 Albany Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Vacant property ready for your vision.; Easy access via keypad for convenient entry.; Built in 1920.
