Four-Family
For Sale
$2,395,000
156 Willoughby Avenue, Brooklyn, NY 11205
A backyard complements a four-unit residence with potential for owner occupancy and rental income.
Property Size3,000 SF
Price / SF$798.33
Days on Market12
Property Features for 156 Willoughby Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$27,972
Amenities
backyard
Building Details
Building Size
3,000 SF
Year Built
1905
Construction
brownstone
Listing Agency:
Compass
Listed By:
KEITH E FRAZIER
(917) 753-4315
Source:
Miradorrealestate
Added: Oct 12
Changed: Oct 18
Last Checked: Oct 21 at 3:39AM
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.
This 1905 brownstone is configured as a four-family property and measures 3,000 square feet. A backyard adds outdoor space, while the layout can accommodate an owner’s residence alongside rental units or room for family, guests, or workspace.
The property is on Willoughby Avenue in Brooklyn, near Pratt Institute, Fort Greene Park, Downtown Brooklyn, Barclays Center, and neighborhood restaurants, cafés, and shops. Convenient transportation is also noted.
The property is on Willoughby Avenue in Brooklyn, near Pratt Institute, Fort Greene Park, Downtown Brooklyn, Barclays Center, and neighborhood restaurants, cafés, and shops. Convenient transportation is also noted.
Key Highlights
- Four‑family brownstone built in 1905
- 3,000‑square‑foot property
- Backyard provides outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,065
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
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
Frequently Asked Questions
What type of property is this?
Quadplex - A backyard complements a four-unit residence with potential for owner occupancy and rental income.
Where is this quadplex located?
The property is located at 156 Willoughby Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Four‑family brownstone built in 1905; 3,000‑square‑foot property; Backyard provides outdoor space
