Fully Renovated Five-Unit Apartment
For Sale
Contact for pricing
137 21st Street, Brooklyn, NY 11232
A fully renovated five-unit building with all units free market and very low annual taxes.
Property Size4,560 SF
Price / SF$657.89
Days on Market125
Property Features for 137 21st Street
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Multifamily
Zoning
M1-2D
Occupancy
100%
Investment Type
Core
Net Operating Income
$210,980
Additional Details
Multifamily Units
5
Building Details
Tenancy
Multi
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Adam Lobel · License #NY
Source:
Crexi
Added: Jun 4
Changed: Oct 4
Last Checked: Oct 5 at 6:30PM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
This five-unit apartment building is fully renovated throughout and configured for independent rental use, with all units available as free market residences. The property includes a total building area of 4,560 square feet, laid out on dimensions of 21 feet by 45 feet. The lot measures 25 feet by 100 feet, providing the footprint for this compact multifamily structure.
Located in Greenwood Heights, Brooklyn, the property is described as being within walking distance to the D, N & R train lines. The offering is positioned as an investment property sale with all units free market, and it notes very low annual taxes under $10,000. The remarks also reference the property benefiting from 2A protected class.
For buyers seeking a renovated, manageable multifamily asset, the building presents a straightforward five-unit configuration with immediate leasing flexibility, given that all units are free market. Its compact size and fully renovated condition may appeal to investors looking to reduce near-term capital considerations while maintaining a clear residential income setup within a transit-accessible Greenwood Heights location.
Located in Greenwood Heights, Brooklyn, the property is described as being within walking distance to the D, N & R train lines. The offering is positioned as an investment property sale with all units free market, and it notes very low annual taxes under $10,000. The remarks also reference the property benefiting from 2A protected class.
For buyers seeking a renovated, manageable multifamily asset, the building presents a straightforward five-unit configuration with immediate leasing flexibility, given that all units are free market. Its compact size and fully renovated condition may appeal to investors looking to reduce near-term capital considerations while maintaining a clear residential income setup within a transit-accessible Greenwood Heights location.
Key Highlights
- Fully renovated 5‑unit apartment building with all units free market
- Building size: 4,560 SF; dimensions 21 ft x 45 ft
- Lot size: 25 ft x 100 ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,212
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,784,240
$2.8M
Cap Rate 7%
$1,988,743
$2.0M
Cap Rate 9%
$1,546,800
$1.5M
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$258.3K $56.64/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$253.1K $55.51/SF
− OpEx
−$113.9K −$24.98/SF
NOI
$139.2K $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%
$2,784,240
Cap Rate 7%
$1,988,743
Cap Rate 9%
$1,546,800
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,212 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.78M
$3.30M – $4.40M
NOI $264,298 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
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
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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?
Apartment building - A fully renovated five-unit building with all units free market and very low annual taxes.
Where is this apartment building located?
The property is located at 137 21st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Fully renovated 5‑unit apartment building with all units free market; Building size: 4,560 SF; dimensions 21 ft x 45 ft; Lot size: 25 ft x 100 ft
