Sheepshead Bay Investment
2146 East 17Th St Unit Brooklyn Brooklyn, NY 11229
For Sale
$3,600,000
Prime Sheepshead Bay Investment Opportunity
Property Size10,560 SF
Lot Size0.14 Acres
Price / SF$340.91
Days on Market295
Property Features for 2146 East 17Th St Unit Brooklyn
General Information
Standard status
Active
Property type
Multifamily properties, Residential income properties
Size
10,560 SF
Class
C
Elevators
N/A
Lot size
0.14 Acres
Occupancy
100%
Sale Condition
Lease Option
Investment Type
Stabilized
Building Details
Year Built
1926
Buildings
2
Stories
3
Units
12
Listing Agency:
(718) 490-2527
Listed By:
Norman
(718) 490-2527
Added: Oct 6, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This is a prime investment opportunity in Sheepshead Bay, Brooklyn, featuring two 6-family buildings located at 2146 East 17 St and 2148 East 17 St, being sold as a package. The detached, three-story brick buildings offer a total of 12 residential units in excellent condition. There are ten 2-bedroom units and two 1-bedroom units, totaling 22 bedrooms. The building dimensions are 44 x 80, situated on a lot size of 60 x 100. Three apartments have been completely renovated with modern kitchens and stylish bathrooms. The property benefits from a stable tenant base and strong rental income with upside potential. Located in a desirable neighborhood, it is in close proximity to the subway, banks, and shopping. The property offers immediate cash flow, with approximate rent income of $225,000, and long-term value. This multi-family property is suitable for expanding portfolios or seeking a high-performing asset.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $598.1k | $56.64 |
| − Vacancy | −$12.0k | −$1.13 |
| EGI | $586.2k | $55.51 |
| − OpEx | −$263.8k | −$24.98 |
| NOI | $322.4k | $30.53 |
10,560 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.61M
$4.03M – $5.37M
NOI $322,386 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.74M
$7.65M – $10.20M
NOI $612,058 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Prime Sheepshead Bay Investment Opportunity
Where is this multifamily property located?
The property is located at 2146 East 17Th St Unit Brooklyn Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,600,000.
