Four-Unit Building Near Metropolitan
For Sale
Contact for pricing
189 Woodpoint Road, Brooklyn, NY 11211
Four-story building with four units near Metropolitan Avenue.
Property Size3,952 SF
Price / SF$898.28
Days on Market852
Property Features for 189 Woodpoint Road
General Information
Standard status
Active
Size
3,952 SF
Class
A
Property subtype
Multifamily
Zoning
R6B
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$200,655
Building Details
Year Built
1999
Year Renovated
2016
Buildings
1
Stories
4
Units
4
Listing Agency:
Brown Harris Stevens
Listed By:
Kervin Vales · License #109918089
(917) 564-5242
Source:
Crexi
Added: Jun 25, 2024
Changed: Oct 23
Last Checked: Oct 23 at 4:58AM
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 Brown Harris Stevens
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an 18-foot wide, four-story building with four units. The ground floor features a two-bedroom duplex apartment with two full bathrooms and a half bathroom, a living/dining area, a full kitchen, and access to the backyard. Floors two through four each contain a three-bedroom floor-through apartment. These apartments include two full bathrooms, a full kitchen, and a living/dining area. All apartments feature wood floors, spacious bedrooms with good-sized closets, stainless steel appliances in the kitchens, and a washer & dryer, microwave, and dishwasher. Common hallway storage closets are available. The apartments are individually metered for gas and electric, and tenants are responsible for their own heat and hot water. The property is located two blocks from Metropolitan Avenue, which offers restaurants and retail stores. The L train is two blocks away at Metropolitan & Graham Avenue. The building provides an opportunity for an owner to live in the ground floor apartment and rent out the upper three floors. The property size is 3952 square feet.
Key Highlights
- Four‑unit building offers income potential with three rental units.
- Ground floor duplex is ideal for owner occupancy with backyard access.
- Located two blocks from Metropolitan Avenue's restaurants and retail.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,406
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,768,120
$2.8M
Cap Rate 7%
$1,977,229
$2.0M
Cap Rate 9%
$1,537,844
$1.5M
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$201.6K $51.00/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$197.7K $50.03/SF
− OpEx
−$59.3K −$15.01/SF
NOI
$138.4K $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%
$2,768,120
Cap Rate 7%
$1,977,229
Cap Rate 9%
$1,537,844
Alternative Uses
Best Use
Multifamily LT 5
$1.98M
$1.73M – $2.31M
NOI $138,406 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,650 @ 7.0% cap · market cap 3.40%
Theoretical Best
Specialty Retail
$3.27M
$2.86M – $3.82M
NOI $229,058 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,932
Businesses Nearby
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Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Check the figures for this property
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?
Quadplex - Four-story building with four units near Metropolitan Avenue.
Where is this quadplex located?
The property is located at 189 Woodpoint Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Four‑unit building offers income potential with three rental units.; Ground floor duplex is ideal for owner occupancy with backyard access.; Located two blocks from Metropolitan Avenue's restaurants and retail.
