Three-Unit Residential Income
554 Central Ave Brooklyn, NY 11207
New
For Sale
$1,900,000
Fully vacant three-family with spacious layouts and high ceilings across three full stories, offering flexible income or owner-occupant options.
Property Size3,600 SF
Price / SF$527.78
Days on Market4
Property Features for 554 Central Ave
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Investment
Building Details
Year Built
1910
Listing Agency:
Real Broker NY LLC
(347) 957-4588
Listed By:
Eliseo Rivera
(347) 957-4588
Source:
Elliman
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 26 at 2:09AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
554 Central Ave presents a substantial three-family residential building delivered fully vacant, offering a straightforward starting point for an owner-occupant or investor. The property is laid out across three full stories with generous proportions, spacious layouts, and high ceilings throughout each residence, supporting a range of renovation and repositioning approaches.
The building sits in a vibrant, walkable stretch of Bushwick with convenient access to the J and L trains, and it is near neighborhood restaurants, cafés, shopping, and nightlife. With R6 zoning and three residential units under one roof, the offering combines usable scale with flexibility for establishing rental income across all units or occupying one residence while renting the others. Bike, walk, and transit scores are also strong, indicating convenient day-to-day access for tenants.
The building sits in a vibrant, walkable stretch of Bushwick with convenient access to the J and L trains, and it is near neighborhood restaurants, cafés, shopping, and nightlife. With R6 zoning and three residential units under one roof, the offering combines usable scale with flexibility for establishing rental income across all units or occupying one residence while renting the others. Bike, walk, and transit scores are also strong, indicating convenient day-to-day access for tenants.
Key Highlights
- Fully vacant 3‑family home with three full stories and approx. 3,600 sq ft total living space
- Built in 1910; each residence features spacious layouts and high ceilings
- R6 zoning; delivers flexibility for renovation, rental income, or multigenerational living
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $183.6k | $51.00 |
| − Vacancy | −$3.5k | −$0.97 |
| EGI | $180.1k | $50.03 |
| − OpEx | −$54.0k | −$15.01 |
| NOI | $126.1k | $35.02 |
3,600 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 5.78%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Fully vacant three-family with spacious layouts and high ceilings across three full stories, offering flexible income or owner-occupant options.
Where is this triplex located?
The property is located at 554 Central Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Fully vacant 3‑family home with three full stories and approx. 3,600 sq ft total living space; Built in 1910; each residence features spacious layouts and high ceilings; R6 zoning; delivers flexibility for renovation, rental income, or multigenerational living
