Quadplex with Finished
For Sale
$1,275,000
2024 Bergen St, Brooklyn, NY 11233
MULTI_FAMILY - Brooklyn, NY
Property Size2,435 SF
Lot Size0.04 Acres
Price / SF$523.61
Days on Market204
Property Features for 2024 Bergen St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Laundry Room, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 1
Interior features
Master Downstairs
Subdivision
Ocean Hill
Standard status
Active
Size
2,435 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1732
Building Details
Floors in Building
2
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Feb 9
Changed: Aug 3
Last Checked: Sep 1 at 9:06AM
MLS# 11651742
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.
Investment Insights
Based on property information with market context.
2024 Bergen St is a legal two-family property configured as four residential units, offering an income-producing residential setup. The property includes a fully finished basement, adding additional usable space beyond the main living areas. An interior feature noted is “master downstairs,” supporting flexible day-to-day living.
The lot size is 0.0377 acres and the property size is 2,435 square feet. The unit layout includes multiple bedrooms and bathrooms, along with a laundry room, providing practical in-home functionality.
This configured quadplex-style arrangement can be suited to investors seeking rental income, or owner-occupants looking to offset expenses with additional units.
The lot size is 0.0377 acres and the property size is 2,435 square feet. The unit layout includes multiple bedrooms and bathrooms, along with a laundry room, providing practical in-home functionality.
This configured quadplex-style arrangement can be suited to investors seeking rental income, or owner-occupants looking to offset expenses with additional units.
Key Highlights
- Legal two‑family configured as four residential units
- Fully finished basement for additional usable space
- Master downstairs interior feature
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
$85,278
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
6.69%
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%
$1,705,560
$1.7M
Cap Rate 7%
$1,218,257
$1.2M
Cap Rate 9%
$947,533
$947.5K
Market Conditions
NOI Build-Up for 2,435 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
$124.2K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$121.8K $50.03/SF
− OpEx
−$36.5K −$15.01/SF
NOI
$85.3K $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%
$1,705,560
Cap Rate 7%
$1,218,257
Cap Rate 9%
$947,533
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,278 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$1.06M
$929.2K – $1.24M
NOI $74,338 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$2.02M
$1.76M – $2.35M
NOI $141,133 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal 2-family configured as four residential units with a fully finished basement and master downstairs layout.
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 configured as four residential units; Fully finished basement for additional usable space; Master downstairs interior feature
