1905 Three-Family
For Sale
$1,800,000
165 17th Street, Brooklyn, NY 11215
MULTI_FAMILY - Brooklyn, NY
Property Size1,952 SF
Lot Size0.04 Acres
Price / SF$922.13
Days on Market42
Property Features for 165 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Driveway
Interior features
First Floor Bedroom
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
00627-0050
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4724
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1905
Number of units
3
Building materials
Brick
Listing Agency:
Motivated Access Realty Corp.
(646) 359-9753
Listed By:
Janet Trujillo
(347) 524-4368
Added: Jul 3
Changed: Jul 17
Last Checked: Aug 13 at 5:06AM
MLS# 1021576
Copyright © 2026 OneKey MLS. 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.
For sale: a classic 1905 three-family, two-story residence located at 165 17th Street in Brooklyn, NY 11215. The property is configured with three separate units and offers approximately 1,952 square feet of living space in total.
Built in the early 1900s, this home is presented as a turnkey option for owners or investors seeking rental income from a multi-unit structure. The layout is designed to support three households within one building.
As a three-family property, it provides an opportunity to be evaluated as a residential income asset in the Greenwood Heights area, with the convenience of having multiple units under one roof.
Built in the early 1900s, this home is presented as a turnkey option for owners or investors seeking rental income from a multi-unit structure. The layout is designed to support three households within one building.
As a three-family property, it provides an opportunity to be evaluated as a residential income asset in the Greenwood Heights area, with the convenience of having multiple units under one roof.
Key Highlights
- Built in 1905, brick three‑family residence in Greenwood Heights
- Approximately 1,952 SF of living space across three units
- Interior includes a first‑floor bedroom
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
$68,362
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
3.80%
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%
$1,367,240
$1.4M
Cap Rate 7%
$976,600
$976.6K
Cap Rate 9%
$759,578
$759.6K
Market Conditions
NOI Build-Up for 1,952 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
$99.6K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.7K $50.03/SF
− OpEx
−$29.3K −$15.01/SF
NOI
$68.4K $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%
$1,367,240
Cap Rate 7%
$976,600
Cap Rate 9%
$759,578
Alternative Uses
Best Use
Multifamily LT 5
$976.6K
$854.5K – $1.14M
NOI $68,362 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$851.3K
$744.9K – $993.2K
NOI $59,593 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,138 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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?
Triplex - 1905-era three-family residence with approximately 1,952 sq. ft. across three units in Brooklyn.
Where is this triplex located?
The property is located at 165 17th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Built in 1905, brick three‑family residence in Greenwood Heights; Approximately 1,952 SF of living space across three units; Interior includes a first‑floor bedroom
