Gravesend Four-Family Home with
For Sale
$1,599,000
2319 W 12th St, Brooklyn, NY 11223
Legal four-family home in prime Gravesend location near amenities.
Property Size4,275 SF
Lot Size0.07 Acres
Days on Market232
Property Features for 2319 W 12th St
General Information
Standard status
Active
Size
4,275 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,537
Building Details
Building Size
4,275 SF
Year Built
1930
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: Mar 10
Changed: Oct 26
Last Checked: Oct 26 at 6:08PM
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
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Investment Insights
Based on property information with market context.
Located in the heart of the Gravesend neighborhood, this fully detached, legal four-family brick home sits on a 30x100 lot with a 19x75 building. The property features a private driveway with parking for multiple cars plus an attached garage. The home offers high ceilings and a smart layout. The first floor includes a one-bedroom apartment in the front and a two-bedroom apartment in the rear, while the second floor mirrors this with another two-bedroom front and two-bedroom rear unit. A fully finished basement provides additional space or storage. Ideally situated near the D and N subway lines, schools, parks, and the vibrant 86th Street shopping district, this property combines lifestyle and convenience. The property is located in Brooklyn, New York. This property is suitable as a high cash-flow investment or a spacious residence for extended family.
Key Highlights
- Legal four‑family detached brick home in prime Gravesend location
- Private driveway with parking for multiple cars plus attached garage
- High cash‑flow investment opportunity or spacious residence for extended family
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,511
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,610,220
$2.6M
Cap Rate 7%
$1,864,443
$1.9M
Cap Rate 9%
$1,450,122
$1.5M
Market Conditions
NOI Build-Up for 4,275 SF
Gross rent
$242.1K $56.64/SF
− Vacancy
−$4.8K −$1.13/SF
EGI
$237.3K $55.51/SF
− OpEx
−$106.8K −$24.98/SF
NOI
$130.5K $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%
$2,610,220
Cap Rate 7%
$1,864,443
Cap Rate 9%
$1,450,122
Alternative Uses
Best Use
Multifamily LT 5
$2.14M
$1.87M – $2.50M
NOI $149,718 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$1.86M
$1.63M – $2.18M
NOI $130,511 @ 7.0% cap · market cap 8.16%
Theoretical Best
Specialty Retail
$3.54M
$3.10M – $4.13M
NOI $247,779 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,371
Businesses Nearby
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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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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?
Quadplex - Legal four-family home in prime Gravesend location near amenities.
Where is this quadplex located?
The property is located at 2319 W 12th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Legal four‑family detached brick home in prime Gravesend location; Private driveway with parking for multiple cars plus attached garage; High cash‑flow investment opportunity or spacious residence for extended family
