Three-Unit Brick Apartment
For Sale
$1,340,000
1397 Sutter Ave, Brooklyn, NY 11208
A three-story configuration includes a finished walk-out basement and in-unit laundry.
Property Size3,822 SF
Lot Size0.04 Acres
Price / SF$350.60
Days on Market109
Property Features for 1397 Sutter Ave
General Information
Standard status
Active
Size
3,822 SF
Lot size
0.04 Acres
Property subtype
Multi Family Home
Units
Unit Mix
1 x 1BR, 2 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Amenities
stainless appliances
in-unit washer/dryer
Building Details
Year Built
2006
Year Renovated
2026
Buildings
1
Stories
3
Construction
brick
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
(855) 305-3325
Source:
Crystinandcorealty
Added: Jul 8
Changed: Oct 23
Last Checked: Oct 23 at 5:12PM
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 5 BORO REALTY CORP
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Investment Insights
Based on property information with market context.
Built in 2006, this three-story brick triplex contains approximately 3,822 square feet on a 1,720-square-foot lot. The unit mix comprises a first-floor one-bedroom apartment and two three-bedroom apartments on the upper floors. A finished walk-out basement adds another bedroom and shared space, bringing the property to nine bedrooms and four bathrooms. Features include gas baseboard heat, stainless steel appliances, and washer and dryer units within the apartments.
The building is tenant-occupied, with an option for vacant delivery. It is in East New York, near schools, grocery stores, and parks, with transit access in the surrounding area.
The building is tenant-occupied, with an option for vacant delivery. It is in East New York, near schools, grocery stores, and parks, with transit access in the surrounding area.
Key Highlights
- Three‑story brick building constructed in 2006
- Approximately 3,822 square feet on a 1,720‑square‑foot lot
- Three‑unit layout: one one‑bedroom apartment and two three‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,112
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,962,240
$2.0M
Cap Rate 7%
$1,401,600
$1.4M
Cap Rate 9%
$1,090,133
$1.1M
Market Conditions
NOI Build-Up for 3,822 SF
Gross rent
$146.8K $38.40/SF
− Vacancy
−$6.6K −$1.73/SF
EGI
$140.2K $36.67/SF
− OpEx
−$42.0K −$11.00/SF
NOI
$98.1K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,962,240
Cap Rate 7%
$1,401,600
Cap Rate 9%
$1,090,133
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,112 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,360 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,701 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,454
Businesses Nearby
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Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A three-story configuration includes a finished walk-out basement and in-unit laundry.
Where is this triplex located?
The property is located at 1397 Sutter Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,340,000.
What are key features of this property?
This property features: Three‑story brick building constructed in 2006; Approximately 3,822 square feet on a 1,720‑square‑foot lot; Three‑unit layout: one one‑bedroom apartment and two three‑bedroom apartments
