Sheepshead Bay Investment
For Sale
$3,600,000
2146 East 17Th St Unit Brooklyn, Brooklyn, NY 11229
Prime Sheepshead Bay Investment Opportunity
Property Size10,560 SF
Lot Size0.14 Acres
Price / SF$340.91
Days on Market387
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
Listed By:
Norman Klein
(718) 490-2527
Added: Oct 6, 2025
Changed: Mar 16
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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
Estimated NOI and Cap Rate
NOI / Yr
$322,386
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,447,720
$6.4M
Cap Rate 7%
$4,605,514
$4.6M
Cap Rate 9%
$3,582,067
$3.6M
Market Conditions
NOI Build-Up for 10,560 SF
Gross rent
$598.1K $56.64/SF
− Vacancy
−$12.0K −$1.13/SF
EGI
$586.2K $55.51/SF
− OpEx
−$263.8K −$24.98/SF
NOI
$322.4K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,447,720
Cap Rate 7%
$4,605,514
Cap Rate 9%
$3,582,067
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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?
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.
