Brick Triplex With
For Sale
$1,149,000
Pending
1544 East 34th Street, Brooklyn, NY 11234
Three-family configuration with a shared rear driveway and a two-car garage.
Property Size2,480 SF
Days on Market788
Property Features for 1544 East 34th Street
General Information
Standard status
Pending
Size
2,480 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,379
Building Details
Year Built
1925
Buildings
1
Construction
brick
Listing Agency:
Behfar Team, LLC
Listed By:
Daniel Sosani
(347) 988-2526
Source:
Exitrealty
Added: Jul 18, 2024
Changed: Sep 2
Last Checked: Sep 12 at 4:49AM
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 Behfar Team, LLC
Investment Insights
Based on property information with market context.
This 2,480-square-foot brick triplex was built in 1925 and contains three residential apartments. The property has a combination of vacant units and occupied units, providing a varied existing occupancy profile. A shared driveway extends toward the rear and serves a two-car garage.
The building is situated on a tree-lined block in Marine Park at 1544 34th Street, Brooklyn. Its three-family layout, masonry construction, and garage access define the property’s primary physical characteristics.
The building is situated on a tree-lined block in Marine Park at 1544 34th Street, Brooklyn. Its three-family layout, masonry construction, and garage access define the property’s primary physical characteristics.
Key Highlights
- 2,480‑square‑foot brick triplex with three residential apartments
- Built in 1925
- Combination of vacant and occupied apartments
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
$86,854
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
7.56%
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%
$1,737,080
$1.7M
Cap Rate 7%
$1,240,771
$1.2M
Cap Rate 9%
$965,044
$965.0K
Market Conditions
NOI Build-Up for 2,480 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
$126.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$124.1K $50.03/SF
− OpEx
−$37.2K −$15.01/SF
NOI
$86.9K $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%
$1,737,080
Cap Rate 7%
$1,240,771
Cap Rate 9%
$965,044
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,854 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$1.08M
$946.4K – $1.26M
NOI $75,712 @ 7.0% cap · market cap 6.59%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,741 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,020
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family configuration with a shared rear driveway and a two-car garage.
Where is this triplex located?
The property is located at 1544 East 34th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 2,480‑square‑foot brick triplex with three residential apartments; Built in 1925; Combination of vacant and occupied apartments
