Corner 3-Family Income
For Sale
$1,550,000
Pending
1893 W 11th St, Brooklyn, NY 11223
Corner 3-family property with well-maintained apartments and a detached garage for off-street parking.
Property Size2,544 SF
Days on Market117
Property Features for 1893 W 11th St
General Information
Standard status
Pending
Size
2,544 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,896
Building Details
Building Size
2,544 SF
Year Built
1920
Stories
2
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Elliman
Added: Jul 5
Changed: Oct 25
Last Checked: Oct 28 at 8:34AM
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 Tiger Realty
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Investment Insights
Based on property information with market context.
This corner 3-family income property offers three spacious apartments and is described as well maintained. The home includes a detached garage, providing convenient off-street parking and additional storage.
The property is located in a neighborhood with easy access to shopping, restaurants, schools, parks, and public transportation.
As a 3-family building, it is set up to generate rental income, with the corner positioning noted as offering added privacy and abundant natural light.
The property is located in a neighborhood with easy access to shopping, restaurants, schools, parks, and public transportation.
As a 3-family building, it is set up to generate rental income, with the corner positioning noted as offering added privacy and abundant natural light.
Key Highlights
- Corner 3‑family property with well‑maintained apartments and spacious units
- Detached garage provides off‑street parking and additional storage
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,095
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,781,900
$1.8M
Cap Rate 7%
$1,272,786
$1.3M
Cap Rate 9%
$989,944
$989.9K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$129.7K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$127.3K $50.03/SF
− OpEx
−$38.2K −$15.01/SF
NOI
$89.1K $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%
$1,781,900
Cap Rate 7%
$1,272,786
Cap Rate 9%
$989,944
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,095 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$1.11M
$970.8K – $1.29M
NOI $77,666 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,450 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,765
Businesses Nearby
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Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Corner 3-family property with well-maintained apartments and a detached garage for off-street parking.
Where is this triplex located?
The property is located at 1893 W 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Corner 3‑family property with well‑maintained apartments and spacious units; Detached garage provides off‑street parking and additional storage; Built in 1920
