Income-Producing Two-Family
For Sale
Contact for pricing
2024 Bergen St, Brooklyn, NY 11233
Legal two-family property configured as four residential units plus a fully finished basement.
Property Size1,644 SF
Price / SF$775.55
Days on Market213
Property Features for 2024 Bergen St
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
4
Listing Agency:
5 Boro Realty Corp
Listed By:
Nina Sabag · License #10311207532
(855) 305-3325
Source:
Crexi
Added: Feb 10
Changed: Sep 10
Last Checked: Sep 11 at 5:40AM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
2024 Bergen Street is a legal two-family property currently configured as four residential units, with additional living space in a fully finished basement. The layout is designed to support multiple income-producing units while providing extra usable square footage below grade.
The property is located in Brooklyn near public transportation and neighborhood amenities, including shopping and schools, supporting ongoing rental demand.
Offered for sale, this setup may appeal to both investors seeking cash-flowing residential units and owner-occupants looking to offset mortgage costs through rental income.
The property is located in Brooklyn near public transportation and neighborhood amenities, including shopping and schools, supporting ongoing rental demand.
Offered for sale, this setup may appeal to both investors seeking cash-flowing residential units and owner-occupants looking to offset mortgage costs through rental income.
Key Highlights
- Legal two‑family property configured as four residential units
- Fully finished basement adds additional usable living/bonus space
- Income‑producing setup designed for investors seeking rental cash flow
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
$57,576
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
4.52%
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%
$1,151,520
$1.2M
Cap Rate 7%
$822,514
$822.5K
Cap Rate 9%
$639,733
$639.7K
Market Conditions
NOI Build-Up for 1,644 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
$83.8K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$82.3K $50.03/SF
− OpEx
−$24.7K −$15.01/SF
NOI
$57.6K $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%
$1,151,520
Cap Rate 7%
$822,514
Cap Rate 9%
$639,733
Alternative Uses
Best Use
Multifamily LT 5
$822.5K
$719.7K – $959.6K
NOI $57,576 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$717.0K
$627.4K – $836.5K
NOI $50,190 @ 7.0% cap · market cap 3.94%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,286 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
Explore this area
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal two-family property configured as four residential units plus a fully finished basement.
Where is this quadplex located?
The property is located at 2024 Bergen St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Legal two‑family property configured as four residential units; Fully finished basement adds additional usable living/bonus space; Income‑producing setup designed for investors seeking rental cash flow
