Brighton Beach Investment
For Sale
$899,000
3024 Brighton 6th St, Brooklyn, NY 11235
Well-maintained 3-family property near Brighton Beach Avenue.
Property Size2,368 SF
Lot Size0.05 Acres
Price / SF$390.87
Days on Market128
Property Features for 3024 Brighton 6th St
General Information
Standard status
Active
Size
2,368 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,453
Building Details
Building Size
2,368 SF
Year Built
1925
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Peter Pan · License #10401215383
(917) 708-9966
Source:
Elliman
Added: Apr 22
Changed: Aug 27
Last Checked: Aug 26 at 10:43AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Located just off Brighton Beach Avenue, 3024 Brighton 6th Street is a well-maintained semi-detached 3-family property. The building offers approximately 2,300+ sq ft of interior space and features three well-configured 2-bedroom units, a layout that supports consistent tenant demand and stable occupancy. The property is currently fully occupied and in excellent condition, with the potential to deliver a unit vacant if desired. It generates approximately $90,000+ in annual gross rental income, with operating expenses of approximately $22,000+ including real estate taxes, resulting in an estimated cap rate exceeding 7.5%. Additional features include a finished full basement with access, a shared driveway, and a detached garage. The property sits on an approximately 20 x 100 lot with R6 zoning. Conveniently located near Brighton Beach Avenue, the property is close to shopping, restaurants, banks, and everyday services. The B and Q subway lines are nearby, providing easy access to Manhattan and throughout Brooklyn. The location has a walk score of 96, a bike score of 63, and a transit score of 84.
Key Highlights
- High Income Potential: Generates $90,000+ annual gross rental income with a cap rate exceeding 7.5%.
- Fully Occupied & Well‑Maintained: Property is in excellent condition with stable tenant demand.
- Flexible Investment: Opportunity to deliver one unit vacant if desired.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,550
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,000
$1.6M
Cap Rate 7%
$1,150,714
$1.2M
Cap Rate 9%
$895,000
$895.0K
Market Conditions
NOI Build-Up for 2,300 SF
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.
Gross rent
$117.3K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.1K $50.03/SF
− OpEx
−$34.5K −$15.01/SF
NOI
$80.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,000
Cap Rate 7%
$1,150,714
Cap Rate 9%
$895,000
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,550 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$1.00M
$877.7K – $1.17M
NOI $70,217 @ 7.0% cap · market cap 7.81%
Theoretical Best
Specialty Retail
$1.90M
$1.67M – $2.22M
NOI $133,308 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,872
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained 3-family property near Brighton Beach Avenue.
Where is this triplex located?
The property is located at 3024 Brighton 6th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: High Income Potential: Generates $90,000+ annual gross rental income with a cap rate exceeding 7.5%.; Fully Occupied & Well‑Maintained: Property is in excellent condition with stable tenant demand.; Flexible Investment: Opportunity to deliver one unit vacant if desired.
