Residential Income Property with Alcove
For Sale
$499,000
13 Irving Place 1A, Brooklyn, NY 11238
The condominium residence has an open kitchen, a separate sleeping alcove, and shared basement laundry.
Property Size517 SF
Price / SF$965.18
Days on Market10
Property Features for 13 Irving Place 1A
General Information
Standard status
Active
Size
517 SF
Property subtype
Apartment
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,520
Amenities
intercom
shared laundry
Building Details
Building Size
517 SF
Year Built
2006
Listing Agency:
Corcoran Group
Listed By:
Noah Shapiro · License #10401379846 (NY)
(917) 364-5795
Source:
Penrealty
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 7 at 5:33PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 517-square-foot condominium residence is configured as an alcove studio, with a sleeping area distinct from its main living space. The open kitchen has stainless steel appliances and a quartz countertop. Nine-foot ceilings and natural light complement the layout. The building was constructed in 2006 and has professional management, unit intercoms, and shared laundry in the basement.
The property is at 13 Irving Place in Brooklyn’s Clinton Hill neighborhood. The A, C, and G trains are nearby, and the surrounding area includes parks, cafes, farmers’ markets, and cultural destinations. Fort Greene, Prospect Heights, and Bed-Stuy are also identified as nearby neighborhoods.
The property is at 13 Irving Place in Brooklyn’s Clinton Hill neighborhood. The A, C, and G trains are nearby, and the surrounding area includes parks, cafes, farmers’ markets, and cultural destinations. Fort Greene, Prospect Heights, and Bed-Stuy are also identified as nearby neighborhoods.
Key Highlights
- 517‑square‑foot alcove studio condominium
- Open kitchen with stainless steel appliances and quartz countertop
- Nine‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,783
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,660
$315.7K
Cap Rate 7%
$225,471
$225.5K
Cap Rate 9%
$175,367
$175.4K
Market Conditions
NOI Build-Up for 517 SF
Gross rent
$29.3K $56.64/SF
− Vacancy
−$586 −$1.13/SF
EGI
$28.7K $55.51/SF
− OpEx
−$12.9K −$24.98/SF
NOI
$15.8K $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%
$315,660
Cap Rate 7%
$225,471
Cap Rate 9%
$175,367
Alternative Uses
Best Use
Apartment 5plus
$225.5K
$197.3K – $263.1K
NOI $15,783 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$428.1K
$374.6K – $499.4K
NOI $29,965 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The condominium residence has an open kitchen, a separate sleeping alcove, and shared basement laundry.
Where is this residential income property located?
The property is located at 13 Irving Place 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 517‑square‑foot alcove studio condominium; Open kitchen with stainless steel appliances and quartz countertop; Nine‑foot ceilings
