2-Unit
New
For Sale
$1,100,000
1451 Gates Avenue, Brooklyn, NY 11237
The property combines a larger residence with a separate apartment, offering two distinct living spaces.
Property Size1,500 SF
Days on Market7
Property Features for 1451 Gates Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,884
Building Details
Building Size
1,500 SF
Year Built
1910
Listing Agency:
Compass
Listed By:
Parviz Latipzoda · License #10301222789
(917) 847-7771
Source:
Tricialee
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 26 at 10:54PM
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
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Investment Insights
Based on property information with market context.
Built in 1910, this two-family property contains an upper residence with 3 bedrooms and 1.5 bathrooms, plus a separate apartment with 1 bedroom and 1 bathroom. The two-unit configuration offers distinct residential spaces within one building.
Transit service includes the L and M subway lines at Myrtle-Wyckoff Avenues, as well as the B52 and B60 bus routes. Restaurants, cafes, shops, parks, and everyday services are among the neighborhood amenities.
Transit service includes the L and M subway lines at Myrtle-Wyckoff Avenues, as well as the B52 and B60 bus routes. Restaurants, cafes, shops, parks, and everyday services are among the neighborhood amenities.
Key Highlights
- Two residential units in one property
- Main residence has 3 bedrooms and 1.5 bathrooms
- Separate apartment has 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,533
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,660
$1.1M
Cap Rate 7%
$750,471
$750.5K
Cap Rate 9%
$583,700
$583.7K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$76.5K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$75.0K $50.03/SF
− OpEx
−$22.5K −$15.01/SF
NOI
$52.5K $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 Rate 5%
$1,050,660
Cap Rate 7%
$750,471
Cap Rate 9%
$583,700
Alternative Uses
Best Use
Multifamily LT 5
$750.5K
$656.7K – $875.6K
NOI $52,533 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$654.2K
$572.4K – $763.2K
NOI $45,793 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,940 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,901
Businesses Nearby
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Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property combines a larger residence with a separate apartment, offering two distinct living spaces.
Where is this duplex located?
The property is located at 1451 Gates Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two residential units in one property; Main residence has 3 bedrooms and 1.5 bathrooms; Separate apartment has 1 bedroom and 1 bathroom
