Borough Park Four-Family
1551 39th St, Brooklyn, NY 11218
For Sale
$2,500,000
Pending
Four-family home in desirable location with income potential.
Property Size3,256 SF
Lot Size0.04 Acres
Days on Market246
Property Features for 1551 39th St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Real Broker LLC
Listed By:
Ichok Landau
(718) 256-4000
Source:
Elliman
Added: Mar 10
Changed: Nov 5
Last Checked: Nov 10 at 6:49AM
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 Real Broker LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Borough Park/Kensington, this four-family home presents income potential and future development opportunities. The property features three 2-bedroom units, each equipped with a kitchen and dining room, along with one 1-bedroom unit that also includes a kitchen and dining room. A finished basement is included. The building is in good condition. The lot measures 20' x 100', while the building dimensions are 20' x 80'. Zoned R6, this property is suitable for investors, developers, or end-users. The neighboring four-family property, featuring the same configuration and zoning, is also available for sale, offering the option to purchase individually or as a package deal.
Key Highlights
- Four‑family home in desirable Borough Park/Kensington location.
- Income‑generating property with three 2‑bedroom units and one 1‑bedroom unit.
- Zoned R6, offering potential for future development.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,031
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,280,620
$2.3M
Cap Rate 7%
$1,629,014
$1.6M
Cap Rate 9%
$1,267,011
$1.3M
Market Conditions
NOI Build-Up for 3,256 SF
Gross rent
$166.1K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$162.9K $50.03/SF
− OpEx
−$48.9K −$15.01/SF
NOI
$114.0K $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%
$2,280,620
Cap Rate 7%
$1,629,014
Cap Rate 9%
$1,267,011
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.43M – $1.90M
NOI $114,031 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,402 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.15M
NOI $188,718 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
5,938
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Quadplexes in Brooklyn, NY
Properties on Market for Quadplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-family home in desirable location with income potential.
Where is this quadplex located?
The property is located at 1551 39th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑family home in desirable Borough Park/Kensington location.; Income‑generating property with three 2‑bedroom units and one 1‑bedroom unit.; Zoned R6, offering potential for future development.
