Duplex with Finished
New
For Sale
$1,049,000
2229 W 8th Street, Brooklyn, NY 11223
Residential, Colonial, Brooklyn, NY
Property Size1,888 SF
Lot Size0.04 Acres
Price / SF$555.61
Days on Market1
Property Features for 2229 W 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 6
Interior features
A/C Unit - Wall, Central Air - Split, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Gravesend
Standard status
Active
Size
1,888 SF
Lot size
0.04 Acres
Additional Details
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Annual Amount
6865
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Tile
Building materials
Wood Frame
Roof type
Flat
Architectural style
Colonial
Buildings
1
Listing Agency:
Keller Williams Realty Staten
Listed By:
Weiping (Billy) Liang
(718) 766-7159
Added: Oct 27
Last Checked: Oct 27 at 2:06PM
MLS# 505649
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-family duplex offers two apartments, each with three bedrooms and one full bathroom. The finished basement adds a full bathroom and has both side and rear entrances. Separate gas and electric meters, hot water heaters, and heating systems serve the apartments. The 1,888-square-foot building measures 16 feet by 59 feet, on a 20-by-85-foot lot totaling 0.0379 acres. Updates completed in 2025 include new flooring and renovated bathrooms; three split A/C units are installed on the second floor.
The property is near the 86th Street N train station, with bus service, supermarkets, shopping, and restaurants along 86th Street. Zoning is R5.
The property is near the 86th Street N train station, with bus service, supermarkets, shopping, and restaurants along 86th Street. Zoning is R5.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bathroom
- 1,888‑square‑foot building on a 0.0379‑acre lot
- Building measures 16' x 59'; lot measures 20' x 85'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,121
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,322,420
$1.3M
Cap Rate 7%
$944,586
$944.6K
Cap Rate 9%
$734,678
$734.7K
Market Conditions
NOI Build-Up for 1,888 SF
Gross rent
$96.3K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.5K $50.03/SF
− OpEx
−$28.3K −$15.01/SF
NOI
$66.1K $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 Rate 5%
$1,322,420
Cap Rate 7%
$944,586
Cap Rate 9%
$734,678
Alternative Uses
Best Use
Multifamily LT 5
$944.6K
$826.5K – $1.10M
NOI $66,121 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$823.4K
$720.5K – $960.7K
NOI $57,639 @ 7.0% cap · market cap 5.49%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,428 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both three-bedroom apartments have separate gas and electric meters, hot water heaters, and heating systems.
Where is this duplex located?
The property is located at 2229 W 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bathroom; 1,888‑square‑foot building on a 0.0379‑acre lot; Building measures 16' x 59'; lot measures 20' x 85'
