Renovated 4-Unit
124 Grove Street, Brooklyn, NY 11221
For Sale
$1,690,000
Pending
Delivered vacant, the building has separate gas and electric meters for each residence.
Property Size4,125 SF
Days on Market21
Property Features for 124 Grove Street
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Finished,Full,Storage Space,Walk-Out Access
Hardwood
6
Yes
12
Aluminum Frames
Ceiling Fan(s),Eat-in Kitchen,Formal Dining,Open Floorplan,Original Details,Primary Bathroom
Finished, Full, Storage Space, Walk-Out Access
No
Back Yard,Front Yard
Public
Stone
4125
Public Maintained Road
Building Details
Building Size
Year Built
Listing Agency:
Revived Residential
(516) 703-2918
Listed By:
Louis LaDonna
Source:
Hedgestonehomes
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 9 at 8:55AM
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 Revived Residential
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Investment Insights
Based on property information with market context.
Built in 1931 and renovated, this four-residence property contains approximately 4,125 square feet. Its layout includes two 5-bedroom, 4-bathroom homes and two 3-bedroom, 1-bathroom homes, totaling 16 bedrooms and 10 full bathrooms. All residences are vacant and separately metered for gas and electricity.
Updated kitchens feature quartz countertops, custom cabinetry, stainless steel appliances, gas ranges, dishwashers, refrigerators, and in-unit washers and dryers. Other improvements include renovated bathrooms, split-system heating and cooling, baseboard heat, large windows, and ceilings approximately 9 to 10 feet high. The property also has a full basement, a front yard, and a private backyard.
The building is at 124 Grove Street in Brooklyn’s Bushwick neighborhood, near the J, Z, M, and L subway lines. Restaurants, cafés, grocery stores, neighborhood retail, parks, fitness centers, and other local services are nearby.
Updated kitchens feature quartz countertops, custom cabinetry, stainless steel appliances, gas ranges, dishwashers, refrigerators, and in-unit washers and dryers. Other improvements include renovated bathrooms, split-system heating and cooling, baseboard heat, large windows, and ceilings approximately 9 to 10 feet high. The property also has a full basement, a front yard, and a private backyard.
The building is at 124 Grove Street in Brooklyn’s Bushwick neighborhood, near the J, Z, M, and L subway lines. Restaurants, cafés, grocery stores, neighborhood retail, parks, fitness centers, and other local services are nearby.
Key Highlights
- Four residences with 16 bedrooms and 10 full bathrooms
- Approximately 4,125 square feet; built in 1931
- Unit mix: two 5‑bedroom, 4‑bathroom residences and two 3‑bedroom, 1‑bathroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,465
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,889,300
$2.9M
Cap Rate 7%
$2,063,786
$2.1M
Cap Rate 9%
$1,605,167
$1.6M
Market Conditions
NOI Build-Up for 4,125 SF
Gross rent
$210.4K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$206.4K $50.03/SF
− OpEx
−$61.9K −$15.01/SF
NOI
$144.5K $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%
$2,889,300
Cap Rate 7%
$2,063,786
Cap Rate 9%
$1,605,167
Alternative Uses
Best Use
Multifamily LT 5
$2.06M
$1.81M – $2.41M
NOI $144,465 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,932 @ 7.0% cap · market cap 7.45%
Theoretical Best
Specialty Retail
$3.42M
$2.99M – $3.98M
NOI $239,085 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
4,613
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
$1,061,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Brooklyn, NY
Properties on Market for Quadplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Delivered vacant, the building has separate gas and electric meters for each residence.
Where is this quadplex located?
The property is located at 124 Grove Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Four residences with 16 bedrooms and 10 full bathrooms; Approximately 4,125 square feet; built in 1931; Unit mix: two 5‑bedroom, 4‑bathroom residences and two 3‑bedroom, 1‑bathroom residences
