Turnkey Six-Family Apartment
2159 E 2nd St Brooklyn, NY 11223
For Sale
$1,500,000
Six-family building with one-bedroom units, largely leased, and documented roof, electrical, gas, water, and Local Law 11 work.
Property Size1,440 SF
Lot Size0.05 Acres
Price / SF$1,041
Days on Market91
Property Features for 2159 E 2nd St
General Information
- Standard status
- Active
- Size
- 1,440 SF
- Lot size
- 0.05 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: Apr 28
Changed: Jul 20
Last Checked: Jul 21 at 8:15AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This well-maintained six-family apartment building offers a 20’ x 72’ footprint on a 20’ x 100’ lot. All units are one-bedroom apartments, with all units fully leased except one apartment that is currently empty. The property has an available inspection record covering roof, electrical, gas, water, and Local Law 11 requirements.
The current income is approximately $111,000 with low annual expenses around $29,200, and the rent schedule includes annual increases of 3% for 1-year leases and 4.5% for 2-year leases. Positioned near Avenue U’s shopping, dining, and services, the building is also close to P.S. 95, parks, and transportation with an F train for quicker access to Manhattan. BikeScore is listed at 58, walkScore at 98, and transitScore at 80.
The current income is approximately $111,000 with low annual expenses around $29,200, and the rent schedule includes annual increases of 3% for 1-year leases and 4.5% for 2-year leases. Positioned near Avenue U’s shopping, dining, and services, the building is also close to P.S. 95, parks, and transportation with an F train for quicker access to Manhattan. BikeScore is listed at 58, walkScore at 98, and transitScore at 80.
Key Highlights
- Six‑family building built in 1928 with a 20' x 72' footprint on a 20' x 100' lot
- All units are 1‑bedroom apartments; fully leased with 1 unit currently empty
- Documented Local Law 11 requirements plus roof, electrical, gas, and water work with a clean inspection record
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 | $81.6k | $56.64 |
| − Vacancy | −$1.6k | −$1.13 |
| EGI | $79.9k | $55.51 |
| − OpEx | −$36.0k | −$24.98 |
| NOI | $44.0k | $30.53 |
1,440 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$628.0K
$549.5K – $732.7K
NOI $43,962 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,462 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-family building with one-bedroom units, largely leased, and documented roof, electrical, gas, water, and Local Law 11 work.
Where is this apartment building located?
The property is located at 2159 E 2nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six‑family building built in 1928 with a 20' x 72' footprint on a 20' x 100' lot; All units are 1‑bedroom apartments; fully leased with 1 unit currently empty; Documented Local Law 11 requirements plus roof, electrical, gas, and water work with a clean inspection record
