Two-Family
For Sale
$1,250,000
183 Patchen Ave, Brooklyn, NY 11233
Residential Income, Brooklyn, NY
Property Size2,496 SF
Lot Size0.03 Acres
Price / SF$500.80
Days on Market87
Property Features for 183 Patchen Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2
Interior features
Entrance Foyer
Subdivision
Bedford-Stuyvesant
Directions
Please use GPS
Standard status
Active
Size
2,496 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3918
Utilities
Water source
Public
Building Details
Year built
1899
Floors in Building
2
Roof type
Flat
Architectural style
Other
Listing Agency:
PEOPLES REALTY AND ASSOCIATES
Listed By:
Chrystina Peoples · License #10491212118
Added: Aug 12
Changed: Oct 31
Last Checked: Nov 6 at 7:06AM
MLS# 12023807
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,496-square-foot duplex is occupied and used as a two-family property. The interior includes five bedrooms, three bathrooms, and an entrance foyer. Built in 1899, the building has a flat roof and public water service; the parcel measures 0.0349 acres.
The property is offered in its current condition, with no repairs or assurances regarding future use. A three-family configuration is described as a possibility, subject to confirmation of legal use and all required zoning, permitting, and New York City approvals.
The property is offered in its current condition, with no repairs or assurances regarding future use. A three-family configuration is described as a possibility, subject to confirmation of legal use and all required zoning, permitting, and New York City approvals.
Key Highlights
- Currently occupied and used as a two‑family property
- 2,496 square feet on a 0.0349‑acre lot
- Five bedrooms and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,414
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,748,280
$1.7M
Cap Rate 7%
$1,248,771
$1.2M
Cap Rate 9%
$971,267
$971.3K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$127.3K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$124.9K $50.03/SF
− OpEx
−$37.5K −$15.01/SF
NOI
$87.4K $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 Rate 5%
$1,748,280
Cap Rate 7%
$1,248,771
Cap Rate 9%
$971,267
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,414 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$1.09M
$952.5K – $1.27M
NOI $76,200 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,668 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,815
Businesses Nearby
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Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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?
Duplex - Occupied residential property with a five-bedroom layout and an entrance foyer.
Where is this duplex located?
The property is located at 183 Patchen Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Currently occupied and used as a two‑family property; 2,496 square feet on a 0.0349‑acre lot; Five bedrooms and three bathrooms
