Detached Two-Family
For Sale
$549,000
15A Lake Avenue, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size1,152 SF
Lot Size0.03 Acres
Price / SF$476.56
Days on Market124
Property Features for 15A Lake Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Central Air, Deck, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,152 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3710
Building Details
Year built
1920
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Bungalow
Listing Agency:
Winzone Realty Inc
(718) 676-6611
Listed By:
Iuliana B. Golimaz
(718) 676-6611
Added: Apr 9
Changed: Aug 3
Last Checked: Aug 10 at 11:06AM
MLS# 500346
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.
Investment Insights
Based on property information with market context.
Detached two-family home configured as a walk-in 1-bedroom, 1-bath unit on the first floor and a 2-bedroom, full-bath unit on the second floor. The property includes one occupied unit and a second unit that is currently vacant and requires renovation. Interior features include central air, wall A/C, hardwood and tile flooring, and an in-unit laundry area, along with kitchen appliances such as dishwasher, microwave, refrigerator, washer, dryer, and stove. A deck and exterior deck/patio feature are included. The home is wood-frame construction with a shingle roof, built in 1920.
Located in Brooklyn near Emmons Avenue on a quiet dead-end street in Sheepshead Bay. The property sits on an approximately 21 x 67 lot with an approx. 67.5 ft depth and an approx. 18 x 41 building size (per NYC public records). Nearby shopping, restaurants, public transportation, and waterfront amenities along Emmons Avenue support everyday convenience.
This two-family layout provides flexibility for an owner-occupant or an investor planning renovations to the vacant unit, within an R4-1 zoning setting.
Located in Brooklyn near Emmons Avenue on a quiet dead-end street in Sheepshead Bay. The property sits on an approximately 21 x 67 lot with an approx. 67.5 ft depth and an approx. 18 x 41 building size (per NYC public records). Nearby shopping, restaurants, public transportation, and waterfront amenities along Emmons Avenue support everyday convenience.
This two-family layout provides flexibility for an owner-occupant or an investor planning renovations to the vacant unit, within an R4-1 zoning setting.
Key Highlights
- R4‑1 zoning
- One occupied unit; second unit vacant and requires renovation
- Approx. 21 x 67 lot with approx. 67.5 ft depth (per NYC public records)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,345
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$806,900
$806.9K
Cap Rate 7%
$576,357
$576.4K
Cap Rate 9%
$448,278
$448.3K
Market Conditions
NOI Build-Up for 1,152 SF
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.
Gross rent
$58.8K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$57.6K $50.03/SF
− OpEx
−$17.3K −$15.01/SF
NOI
$40.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$806,900
Cap Rate 7%
$576,357
Cap Rate 9%
$448,278
Alternative Uses
Best Use
Multifamily LT 5
$576.4K
$504.3K – $672.4K
NOI $40,345 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$502.4K
$439.6K – $586.2K
NOI $35,169 @ 7.0% cap · market cap 6.41%
Theoretical Best
Specialty Retail
$953.9K
$834.6K – $1.11M
NOI $66,770 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Detached two-family property on an R4-1 lot with one occupied unit and one vacant unit needing renovation.
Where is this duplex located?
The property is located at 15A Lake Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: R4‑1 zoning; One occupied unit; second unit vacant and requires renovation; Approx. 21 x 67 lot with approx. 67.5 ft depth (per NYC public records)
