Brick Three-Unit Multifamily
For Sale
$1,300,000
1769 Nostrand Avenue, Brooklyn, NY 11226
Vacant at closing, the apartments feature hardwood floors, updated kitchens, stainless appliances, and windows at both ends.
Property Size3,300 SF
Lot Size0.05 Acres
Price / SF$393.94
Days on Market10
Property Features for 1769 Nostrand Avenue
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.05 Acres
Property subtype
Residential Income
Zoning
R6 with C2-3 overlay
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,773
Amenities
hardwood floors
updated kitchens with stainless appliances
Full
Yes
6
Other
Public
No
Off Street, On Street
Building Details
Year Built
1933
Buildings
1
Stories
3
Construction
solid brick
Listing Agency:
Gosen Properties
(516) 703-2918
Listed By:
Matthew Dubinsky
(718) 598-7374
Source:
Hedgestonehomes
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 9:18AM
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 Gosen Properties
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Investment Insights
Based on property information with market context.
This 1933 brick multifamily building contains three apartments across three floors, with approximately 3,300 square feet above a full basement. The building measures 20 x 55 on a 20 x 100 lot. Each apartment has hardwood floors, an updated kitchen with stainless appliances, and windows facing both the front and rear. The full-height basement is open and can accommodate storage or laundry use. The property will be delivered vacant at closing.
Zoning is R6 with a C2-3 overlay. Nostrand Avenue subway service and major bus lines are nearby, along with shops, restaurants, cafes, schools, and parks. The property is on a wide street in Flatbush, Brooklyn.
Zoning is R6 with a C2-3 overlay. Nostrand Avenue subway service and major bus lines are nearby, along with shops, restaurants, cafes, schools, and parks. The property is on a wide street in Flatbush, Brooklyn.
Key Highlights
- Three apartments in a brick building constructed in 1933
- Approximately 3,300 square feet; three floors over a full basement
- Building measures 20 x 55 on a 20 x 100 lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,651
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,020
$1.7M
Cap Rate 7%
$1,195,014
$1.2M
Cap Rate 9%
$929,456
$929.5K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$124.7K $37.80/SF
− Vacancy
−$5.2K −$1.59/SF
EGI
$119.5K $36.21/SF
− OpEx
−$35.9K −$10.86/SF
NOI
$83.7K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,673,020
Cap Rate 7%
$1,195,014
Cap Rate 9%
$929,456
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.39M
NOI $83,651 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$1.11M
$967.0K – $1.29M
NOI $77,363 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,175 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,982
Businesses Nearby
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Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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?
Triplex - Vacant at closing, the apartments feature hardwood floors, updated kitchens, stainless appliances, and windows at both ends.
Where is this triplex located?
The property is located at 1769 Nostrand Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three apartments in a brick building constructed in 1933; Approximately 3,300 square feet; three floors over a full basement; Building measures 20 x 55 on a 20 x 100 lot
