Brick Four-Unit
For Sale
$1,799,000
2343 E 22nd Street, Brooklyn, NY 11229
Residential, Brooklyn, NY
Property Size3,600 SF
Lot Size0.04 Acres
Price / SF$499.72
Days on Market109
Property Features for 2343 E 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 1, Bathroom 4, Bedroom 7, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 8, Bathroom 5, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 3
Interior features
A/C Unit, Central Air - Split, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
3,600 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
17882
Building Details
Year built
1927
Floors in Building
2
Number of units
4
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Kelly Wu · License #10401268467
(917) 916-2368
Added: Jun 23
Changed: Sep 16
Last Checked: Oct 9 at 2:06PM
MLS# 502504
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.
Investment Insights
Based on property information with market context.
This 3,600-square-foot quadplex is a semi-detached brick residence built in 1927. The first level contains separate one-bedroom and two-bedroom apartments, while the second level includes three-bedroom and two-bedroom layouts. Each apartment has one full bathroom. A fully finished basement adds another bathroom and has its own exterior entry. Hardwood and tile flooring, split-system air conditioning, refrigerators, and stoves are included. Recent property improvements include a flat roof installed about 6 years ago, a replacement heating and hot water system, and a renewed water service line connecting the home with the street.
The property occupies a 0.0413-acre lot at 2343 E 22nd Street in Brooklyn, NY 11229, within R4 zoning. It is near the Avenue U business corridor, retail, restaurants, schools, and public transportation. Transit options identified for the area include the B and Q trains and B49, B3, and BM3 bus routes.
The property occupies a 0.0413-acre lot at 2343 E 22nd Street in Brooklyn, NY 11229, within R4 zoning. It is near the Avenue U business corridor, retail, restaurants, schools, and public transportation. Transit options identified for the area include the B and Q trains and B49, B3, and BM3 bus routes.
Key Highlights
- Four‑unit configuration with 1BD/1BA, 2BD/1BA, 3BD/1BA, and 2BD/1BA apartments
- 3,600 square feet on a 0.0413‑acre lot
- Full finished basement with separate entrance and additional full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,078
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,521,560
$2.5M
Cap Rate 7%
$1,801,114
$1.8M
Cap Rate 9%
$1,400,867
$1.4M
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$183.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$180.1K $50.03/SF
− OpEx
−$54.0K −$15.01/SF
NOI
$126.1K $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%
$2,521,560
Cap Rate 7%
$1,801,114
Cap Rate 9%
$1,400,867
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,874
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - R4-zoned property offers four apartments, a finished basement, and updated building systems.
Where is this quadplex located?
The property is located at 2343 E 22nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Four‑unit configuration with 1BD/1BA, 2BD/1BA, 3BD/1BA, and 2BD/1BA apartments; 3,600 square feet on a 0.0413‑acre lot; Full finished basement with separate entrance and additional full bathroom
