3-Unit Multifamily
1509 EASTERN Pkwy, Brooklyn, NY 11233
For Sale
$999,000
The occupied building is offered in its current condition, with no interior access available.
Property Size1,430 SF
Days on Market12
Property Features for 1509 EASTERN Pkwy
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Corcoran Group
Listed By:
Anthony L Morris · License NY 30MO0951810
(646) 523-5711
Source:
Elliman
Added: Oct 30
Changed: Nov 6
Last Checked: Nov 8 at 5:53AM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
This three-story multifamily property contains 3 units and 4,290 square feet. Built in 1910, the building sits on a 2,555-square-foot lot measuring 22 feet by 95 feet. The property is occupied and offered as-is; interior access is not available.
Located at 1509 Eastern Parkway in Brooklyn, the property is identified as being in Crown Heights.
Located at 1509 Eastern Parkway in Brooklyn, the property is identified as being in Crown Heights.
Key Highlights
- Three‑story building with 3 units
- 4,290 square feet of building area
- 2,555‑square‑foot lot measuring 22 ft x 95 ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,081
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,620
$1.0M
Cap Rate 7%
$715,443
$715.4K
Cap Rate 9%
$556,456
$556.5K
Market Conditions
NOI Build-Up for 1,430 SF
Gross rent
$72.9K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$71.5K $50.03/SF
− OpEx
−$21.5K −$15.01/SF
NOI
$50.1K $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%
$1,001,620
Cap Rate 7%
$715,443
Cap Rate 9%
$556,456
Alternative Uses
Best Use
Multifamily LT 5
$715.4K
$626.0K – $834.7K
NOI $50,081 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$623.7K
$545.7K – $727.6K
NOI $43,656 @ 7.0% cap · market cap 4.37%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,883 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,767
Businesses Nearby
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Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Brooklyn, NY
Properties on Market for Triplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The occupied building is offered in its current condition, with no interior access available.
Where is this triplex located?
The property is located at 1509 EASTERN Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑story building with 3 units; 4,290 square feet of building area; 2,555‑square‑foot lot measuring 22 ft x 95 ft
