Renovated Six-Unit Apartment
1565 70th Street, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property size:
4,680 SFLot size:
0.05 AcresPrice / SF:
$424/SF- Added:
- Jun 23, 2026
- Days on Market:
- 14
- Last Refresh:
- Jul 6 at 3:06 pm
Property Features for 1565 70th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 18
- Bathrooms
- 7
- Rooms
- Bathroom 3, Bedroom 7, Bedroom 13, Bedroom 1, Bedroom 16, Bedroom 15, Bedroom 3, Bedroom 10, Bedroom 9, Bedroom 18, Bathroom 5, Bathroom 6, Bedroom 5, Bedroom 6, Bedroom 17, Bathroom 4, Bedroom 12, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 14, Bathroom 7, Bedroom 8, Bedroom 11, Bathroom 1
- Interior features
- Stove
- Basement
- Finished, Full
- Standard status
- Active
- Size
- 4,680 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 20768
Building Details
- Year built
- 1926
- Floors in Building
- 3
- Number of units
- 6
- Flooring type
- Tile, Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing agent Emily Hui Chen-Liang (917) 708-9966
Listing office Tiger Realty 1484 86th Street, Brooklyn, NY (917) 708-9966
Listing date Jun 23, 2026
MLS# 502527
Listing URL
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 6‑family brick building (Year built 1926) with flat roof and hardwood and tile flooring
- Complete gut renovation in 2011: structural steel beam reinforcement, new plumbing and sewer lines, and fully updated electrical system
- Separate heating and hot water systems for each unit, plus all new windows and a new metal staircase
- Unit mix: two 3BR/1LR apartments and four 3BR units with large eat‑in kitchens; kitchens, bathrooms, and flooring reconfigured
- Basement currently rented as storage for additional income that can be delivered vacant at closing
- Current rents total $13,626/month ($163,512 annually); operating expenses approx. $32,093/year (NOI approx. $131,419)
Overview
This renovated six-unit apartment building was fully gutted in 2011 and reconfigured with updated unit interiors. Improvements include structural steel beam reinforcement, all new plumbing and sewer lines, a fully updated electrical system, new windows, a new metal staircase, and refreshed kitchens, bathrooms, and flooring throughout. The building includes two units with three bedrooms and one living room, plus four additional three-bedroom apartments with large eat-in kitchens. Separate heating and hot water systems are provided for each unit, supporting straightforward long-term maintenance. The basement is currently rented as storage and can be delivered vacant at closing.
The property is zoned R5 and sits on a 0.0459-acre site. Total existing configuration includes the six residential units and a basement storage arrangement, with current rental income reported as $13,626 per month including basement income.
For investors and owner-operators, the combination of extensive 2011 renovation work, unit-by-unit heating and hot water, and a basement storage component makes this an income-producing multifamily asset with established operating expense history. Reported annual operating expenses are approximately $32,093, including property taxes, water and sewer, insurance, and electricity, supporting an indicated annual net operating income of approximately $131,419.
The property is zoned R5 and sits on a 0.0459-acre site. Total existing configuration includes the six residential units and a basement storage arrangement, with current rental income reported as $13,626 per month including basement income.
For investors and owner-operators, the combination of extensive 2011 renovation work, unit-by-unit heating and hot water, and a basement storage component makes this an income-producing multifamily asset with established operating expense history. Reported annual operating expenses are approximately $32,093, including property taxes, water and sewer, insurance, and electricity, supporting an indicated annual net operating income of approximately $131,419.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $265.1k | $56.64 |
| − Vacancy | −$5.3k | −$1.13 |
| EGI | $259.8k | $55.51 |
| − OpEx | −$116.9k | −$24.98 |
| NOI | $142.9k | $30.53 |
4,680 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,876 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.88M
$3.39M – $4.52M
NOI $271,253 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.998234
- Latitude
- 40.619648
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated six-unit multifamily property with separate heating and hot water systems per unit and a basement storage rental.
Where is this apartment building located?
The property is located at 1565 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: 6‑family brick building (Year built 1926) with flat roof and hardwood and tile flooring; Complete gut renovation in 2011: structural steel beam reinforcement, new plumbing and sewer lines, and fully updated electrical system; Separate heating and hot water systems for each unit, plus all new windows and a new metal staircase
