Flatlands Multi-Unit Brick
For Sale
$1,300,000
1278 E 53rd St, Brooklyn, NY 11234
Well-maintained multi-unit property in Flatlands, near Marine Park.
Property Size3,100 SF
Days on Market157
Property Features for 1278 E 53rd St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,029
Building Details
Building Size
3,100 SF
Year Built
1950
Stories
3
Listing Agency:
Exit All Seasons Realty
Listed By:
Hilaire Derosena · License #40DE0831412
(718) 345-4545
Source:
Elliman
Added: May 20
Changed: Oct 21
Last Checked: Oct 23 at 8:58AM
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 Exit All Seasons Realty
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Investment Insights
Based on property information with market context.
This well-maintained brick multi-unit property is located on a quiet, tree-lined street in Flatlands. The property spans over three levels and includes a full finished basement. The top floor features a large three-bedroom apartment, while the second-floor unit offers two spacious bedrooms. The lower level also includes a one-car garage. Flatlands is known for its quiet, suburban ambience. The property is located near Marine Park, which covers almost 800 acres and offers multiple playgrounds, bicycle lines, a golf course, and a launch site for canoes and kayaks. The location is very walkable with a walk score of 84, bikeable with a bike score of 66, and has excellent transit with a transit score of 80.
Key Highlights
- Multi‑unit property ideal for rental income or multi‑generational living.
- Located in Flatlands, known for its quiet, suburban atmosphere.
- Close proximity to Marine Park, Brooklyn's largest park (almost 800 acres) with diverse recreational activities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,640
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,892,800
$1.9M
Cap Rate 7%
$1,352,000
$1.4M
Cap Rate 9%
$1,051,556
$1.1M
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$175.6K $56.64/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$172.1K $55.51/SF
− OpEx
−$77.4K −$24.98/SF
NOI
$94.6K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,892,800
Cap Rate 7%
$1,352,000
Cap Rate 9%
$1,051,556
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,640 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.57M
$2.25M – $2.99M
NOI $179,676 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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?
Multifamily property - Well-maintained multi-unit property in Flatlands, near Marine Park.
Where is this multifamily property located?
The property is located at 1278 E 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Multi‑unit property ideal for rental income or multi‑generational living.; Located in Flatlands, known for its quiet, suburban atmosphere.; Close proximity to Marine Park, Brooklyn's largest park (almost 800 acres) with diverse recreational activities.
