Renovated Four-Family
New
For Sale
$2,680,000
2219 60th St, Brooklyn, NY 11204
Updated vacant residences, finished lower-level space, private parking access, and outdoor area support flexible occupancy planning.
Property Size3,280 SF
Days on Market5
Property Features for 2219 60th St
General Information
Standard status
Active
Size
3,280 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,592
Amenities
private driveway
spacious backyard
fully finished basement
Building Details
Building Size
3,280 SF
Year Built
1928
Stories
2
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Xi Xian (Johnny) Pan · License #XXP4124
(718) 210-2727
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 12 at 6:10AM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This renovated quadplex contains four vacant units, each arranged with two bedrooms and one bathroom. The property also includes a private driveway, a spacious backyard, and a fully finished basement with direct access to the outdoors. These improvements provide a defined residential configuration for an owner or operator evaluating the asset for continued rental use.
Located at 2219 60th St in Brooklyn, the property sits between Bay Parkway and 60th Street, surrounded by restaurants, shops, and supermarkets. Public transportation includes access to the B6 and B9 bus lines and the F and N trains. Walk Score is 96, Transit Score is 84, and Bike Score is 56. Built in 1928, the property combines established construction with updated interior layouts.
Located at 2219 60th St in Brooklyn, the property sits between Bay Parkway and 60th Street, surrounded by restaurants, shops, and supermarkets. Public transportation includes access to the B6 and B9 bus lines and the F and N trains. Walk Score is 96, Transit Score is 84, and Bike Score is 56. Built in 1928, the property combines established construction with updated interior layouts.
Key Highlights
- Four vacant units, each with a two‑bedroom, one‑bathroom layout
- Fully renovated four‑family property built in 1928
- Finished basement with direct outdoor access
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
$114,871
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
4.29%
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%
$2,297,420
$2.3M
Cap Rate 7%
$1,641,014
$1.6M
Cap Rate 9%
$1,276,344
$1.3M
Market Conditions
NOI Build-Up for 3,280 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
$167.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.1K $50.03/SF
− OpEx
−$49.2K −$15.01/SF
NOI
$114.9K $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%
$2,297,420
Cap Rate 7%
$1,641,014
Cap Rate 9%
$1,276,344
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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 - Updated vacant residences, finished lower-level space, private parking access, and outdoor area support flexible occupancy planning.
Where is this quadplex located?
The property is located at 2219 60th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: Four vacant units, each with a two‑bedroom, one‑bathroom layout; Fully renovated four‑family property built in 1928; Finished basement with direct outdoor access
