Renovated Triplex with Two-Bedroom
For Sale
$1,995,000
131 20th Street MULTI, Brooklyn, NY 11232
Three recently updated apartments provide a fully rented residential income property with an option for owner occupancy.
Property Size2,700 SF
Lot Size0.23 Acres
Price / SF$738.89
Days on Market128
Property Features for 131 20th Street MULTI
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.23 Acres
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,260
Building Details
Building Size
2,700 SF
Year Built
1910
Buildings
1
Listing Agency:
Compass
(516) 232-4114
Listed By:
Jack LeGuelaff · License #10401326617
(516) 232-4114
Source:
Miradorrealestate
Added: Apr 8
Changed: Aug 8
Last Checked: Aug 12 at 3:12PM
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 Compass
Investment Insights
Based on property information with market context.
This three-family residential property contains approximately 2,700 square feet within a 25 ft x 36 ft building footprint. Each level includes a two-bedroom apartment, creating a consistent unit configuration across the structure. Recent improvements include a new roof and other renovations. The building is currently fully rented, and alternate floor plans provide an opportunity to configure the first floor as an owner’s duplex while retaining additional rental units.
The property occupies a 100.17 x 100.42 lot at 131 20th Street in Brooklyn, NY 11232. Built in 1910, it combines established construction with recent updates and a layout suited to continued multifamily use.
The property occupies a 100.17 x 100.42 lot at 131 20th Street in Brooklyn, NY 11232. Built in 1910, it combines established construction with recent updates and a layout suited to continued multifamily use.
Key Highlights
- Three‑family property with three two‑bedroom apartments
- Approximately 2,700 square feet of building area
- 25 ft x 36 ft building footprint
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
$94,559
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
4.74%
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%
$1,891,180
$1.9M
Cap Rate 7%
$1,350,843
$1.4M
Cap Rate 9%
$1,050,656
$1.1M
Market Conditions
NOI Build-Up for 2,700 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
$137.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$135.1K $50.03/SF
− OpEx
−$40.5K −$15.01/SF
NOI
$94.6K $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%
$1,891,180
Cap Rate 7%
$1,350,843
Cap Rate 9%
$1,050,656
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,559 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,428 @ 7.0% cap · market cap 4.13%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three recently updated apartments provide a fully rented residential income property with an option for owner occupancy.
Where is this triplex located?
The property is located at 131 20th Street MULTI Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Three‑family property with three two‑bedroom apartments; Approximately 2,700 square feet of building area; 25 ft x 36 ft building footprint
