Corner Triplex with Finished
For Sale
$1,800,000
1681 Brooklyn Avenue, Brooklyn, NY 11210
Triplex with ten bedrooms, including a finished basement and separate three- and four-bedroom units.
Property Size3,250 SF
Days on Market407
Property Features for 1681 Brooklyn Avenue
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Residential Income
Zoning
R6
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,331
Building Details
Building Size
3,250 SF
Year Built
1940
Units
3
Listing Agency:
Landmark International R E LLC
(718) 898-8300
Listed By:
Dongyue Niu · License #893520
(347) 870-1239
Source:
Maurafinnegan
Added: Jul 30, 2025
Changed: Sep 8
Last Checked: Sep 8 at 7:49AM
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 Landmark International R E LLC
Investment Insights
Based on property information with market context.
This corner triplex offers a total of ten bedrooms across its existing layout. The first floor features a large three-bedroom apartment. The second floor is configured as a four-bedroom apartment. A full finished basement adds three additional bedrooms, providing substantial interior space within the building.
Situated in Brooklyn at 1681 Brooklyn Ave, the property is described as close to the 2 and 5 train, Brooklyn College, the B44 bus, supermarkets, churches, schools, restaurants, and shopping. The offering notes R6 zoning, which may support redevelopment opportunities. The remarks further state approximately 9,689 sqft buildable for residential use and 3,233 sqft buildable for community service, along with a stated rate of 145.48 per buildable sqft. A land survey is also referenced as available in the attachments.
Situated in Brooklyn at 1681 Brooklyn Ave, the property is described as close to the 2 and 5 train, Brooklyn College, the B44 bus, supermarkets, churches, schools, restaurants, and shopping. The offering notes R6 zoning, which may support redevelopment opportunities. The remarks further state approximately 9,689 sqft buildable for residential use and 3,233 sqft buildable for community service, along with a stated rate of 145.48 per buildable sqft. A land survey is also referenced as available in the attachments.
Key Highlights
- Triplex with 10 bedrooms, including a full finished basement plus separate three- and four‑bedroom units
- Building size noted as 21 ft x 65 ft per unit
- First floor includes a large 3‑bedroom apartment; second floor includes a 4‑bedroom apartment
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
$113,821
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
6.32%
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%
$2,276,420
$2.3M
Cap Rate 7%
$1,626,014
$1.6M
Cap Rate 9%
$1,264,678
$1.3M
Market Conditions
NOI Build-Up for 3,250 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
$165.8K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.6K $50.03/SF
− OpEx
−$48.8K −$15.01/SF
NOI
$113.8K $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%
$2,276,420
Cap Rate 7%
$1,626,014
Cap Rate 9%
$1,264,678
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.42M – $1.90M
NOI $113,821 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,219 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.14M
NOI $188,370 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,383
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
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
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with ten bedrooms, including a finished basement and separate three- and four-bedroom units.
Where is this triplex located?
The property is located at 1681 Brooklyn Avenue 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: Triplex with 10 bedrooms, including a full finished basement plus separate three- and four‑bedroom units; Building size noted as 21 ft x 65 ft per unit; First floor includes a large 3‑bedroom apartment; second floor includes a 4‑bedroom apartment
