Renovated Four-Unit
124 Grove Street, Brooklyn, NY 11221
For Sale
$2,749,999
Residential Income, Brooklyn, NY
Property Size4,125 SF
Lot Size0.06 Acres
Price / SF$666.67
Days on Market108
Property Features for 124 Grove Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Basement
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
in-unit washer/dryer
front yard
private backyard
Building Details
Year built
Number of units
Building materials
Buildings
Listing Agency:
Keller Williams Realty Greater
(516) 873-7100
Listed By:
Davidson Joseph
(917) 415-1060
Added: Jul 30
Changed: Nov 12
Last Checked: Nov 14 at 12:06AM
MLS# 1032946
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This semi-attached quadplex at 124 Grove Street contains approximately 4,125 square feet and is being offered vacant following a comprehensive renovation. The layout includes two five-bedroom, four-bath residences and two three-bedroom, one-bath residences, totaling 16 bedrooms and 10 full bathrooms. Separate gas and electric meters serve each residence, supporting independent household operations.
Interior improvements include updated kitchens with quartz counters, custom cabinetry, stainless steel appliances, gas ranges, dishwashers, and in-unit laundry. Renovated bathrooms, split-system heating and cooling, baseboard heat, large windows, and approximately 9- to 10-foot ceilings add to the residential configuration. The property also includes a full basement, front yard, and private backyard.
The building was constructed in 1931 and is located in Bushwick, Brooklyn. Access to the J, Z, M, and L subway lines connects the property with Williamsburg, Downtown Brooklyn, and Manhattan. Restaurants, cafes, grocery stores, parks, fitness centers, and neighborhood retail are nearby.
Interior improvements include updated kitchens with quartz counters, custom cabinetry, stainless steel appliances, gas ranges, dishwashers, and in-unit laundry. Renovated bathrooms, split-system heating and cooling, baseboard heat, large windows, and approximately 9- to 10-foot ceilings add to the residential configuration. The property also includes a full basement, front yard, and private backyard.
The building was constructed in 1931 and is located in Bushwick, Brooklyn. Access to the J, Z, M, and L subway lines connects the property with Williamsburg, Downtown Brooklyn, and Manhattan. Restaurants, cafes, grocery stores, parks, fitness centers, and neighborhood retail are nearby.
Key Highlights
- Approximately 4,125 square feet with 16 bedrooms and 10 full bathrooms
- Four residences: two 5‑bedroom, 4‑bath units and two 3‑bedroom, 1‑bath units
- Vacant delivery with separate gas and electric meters for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,465
Cap Rate
5.25%
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 5.25%
Second Best
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,932 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$3.42M
$2.99M – $3.98M
NOI $239,085 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
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
$1,061,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - Vacant delivery supports owner occupancy, rental use, or a combination across four separately metered residences.
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 $2,749,999.
What are key features of this property?
This property features: Approximately 4,125 square feet with 16 bedrooms and 10 full bathrooms; Four residences: two 5‑bedroom, 4‑bath units and two 3‑bedroom, 1‑bath units; Vacant delivery with separate gas and electric meters for each residence
