Three-Family Residential Income
For Sale
$2,495,000
125 Bay 29th St, Brooklyn, NY 11214
Legal 3-family home built in 2008 with a fully finished basement and independent utilities for each unit.
Property Size3,350 SF
Lot Size0.07 Acres
Days on Market99
Property Features for 125 Bay 29th St
General Information
Standard status
Active
Size
3,350 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Additional Details
Clear Height
8 ft
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,760
Building Details
Building Size
3,350 SF
Year Built
2008
Stories
3
Listing Agency:
REMAX EDGE
Listed By:
ChaoHui Andrew Chen · License #CAC7832
(718) 612-3088
Source:
Elliman
Added: Jul 21
Changed: Oct 26
Last Checked: Oct 26 at 3:04PM
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 REMAX EDGE
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Investment Insights
Based on property information with market context.
This legal three-family residential income property was built in 2008 and has a Certificate of Occupancy issued in 2014. The building features three and a half levels above ground plus a fully finished basement. Unit layouts are as follows: the first floor offers three bedrooms and one bathroom; the second floor offers three bedrooms and two full bathrooms; and the third floor offers four bedrooms and two full bathrooms.
A fully finished basement is included with a separate entrance and an estimated 8-foot height. The property is set up for independence between units, with four separate heating systems, four hot water tanks, four electric meters, and four gas meters, along with split AC units. Full possession is granted at closing, and the property is described as move-in condition.
The building measures approximately 21' x 50' and sits on a lot measuring approximately 30' x 97'.
A fully finished basement is included with a separate entrance and an estimated 8-foot height. The property is set up for independence between units, with four separate heating systems, four hot water tanks, four electric meters, and four gas meters, along with split AC units. Full possession is granted at closing, and the property is described as move-in condition.
The building measures approximately 21' x 50' and sits on a lot measuring approximately 30' x 97'.
Key Highlights
- Legal 3‑family home built in 2008 with Certificate of Occupancy (C.O.) issued in 2014
- 3.5 floors above ground plus a fully finished basement with separate entrance and 8‑ft basement height
- Unit layout: 1st floor 3BR/1BA; 2nd floor 3BR/2BA; 3rd floor 4BR/2BA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,371
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,827,420
$1.8M
Cap Rate 7%
$1,305,300
$1.3M
Cap Rate 9%
$1,015,233
$1.0M
Market Conditions
NOI Build-Up for 3,350 SF
Gross rent
$136.7K $40.80/SF
− Vacancy
−$6.2K −$1.84/SF
EGI
$130.5K $38.96/SF
− OpEx
−$39.2K −$11.69/SF
NOI
$91.4K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,827,420
Cap Rate 7%
$1,305,300
Cap Rate 9%
$1,015,233
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.14M – $1.52M
NOI $91,371 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,889 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,796 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8 ft
Clear height
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,449
Businesses Nearby
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Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Legal 3-family home built in 2008 with a fully finished basement and independent utilities for each unit.
Where is this triplex located?
The property is located at 125 Bay 29th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Legal 3‑family home built in 2008 with Certificate of Occupancy (C.O.) issued in 2014; 3.5 floors above ground plus a fully finished basement with separate entrance and 8‑ft basement height; Unit layout: 1st floor 3BR/1BA; 2nd floor 3BR/2BA; 3rd floor 4BR/2BA
