Renovated Multifamily Property in
For Sale
$1,750,000
2349 W 12th St, Brooklyn, NY 11223
Two renovated buildings with multiple units and modern upgrades.
Property Size2,540 SF
Lot Size0.07 Acres
Price / SF$688.98
Days on Market230
Property Features for 2349 W 12th St
General Information
Standard status
Active
Size
2,540 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,346
Building Details
Year Built
1925
Stories
2
Listing Agency:
Remax Real Estate Professionals
Listed By:
Xiao Rong (Ivy) Yang
(718) 532-2000
Source:
Elliman
Added: Mar 11
Changed: Oct 26
Last Checked: Oct 24 at 7:11PM
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 Remax Real Estate Professionals
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Investment Insights
Based on property information with market context.
This property features two detached buildings, both renovated in 2020 with upgrades including new electricity, plumbing, three new heating units, and three new hot water heaters. Building 1 is a 2-family structure with four levels and dimensions of 24x35. It includes an awning at the front and a second entrance at the rear. Building 2 is a 1-family building with two levels and dimensions of 23x28, featuring two entrances. The property includes 16 rooms, 7 bedrooms, and 3 bathrooms. Outdoor space includes a front yard with an awning and a large yard situated between the two buildings. The property tax is $8,436.
Key Highlights
- Newly renovated in 2020 with updated electricity, plumbing, heating units, and hot water heaters.
- Two detached buildings: a 2‑family (Building 1) and a 1‑family (Building 2).
- Building 1 is a 2‑family with 4 levels, 16 rooms, 7 bedrooms and 3 bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,544
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,550,880
$1.6M
Cap Rate 7%
$1,107,771
$1.1M
Cap Rate 9%
$861,600
$861.6K
Market Conditions
NOI Build-Up for 2,540 SF
Gross rent
$143.9K $56.64/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$141.0K $55.51/SF
− OpEx
−$63.4K −$24.98/SF
NOI
$77.5K $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%
$1,550,880
Cap Rate 7%
$1,107,771
Cap Rate 9%
$861,600
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$969.3K – $1.29M
NOI $77,544 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $147,218 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,117
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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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?
Apartment building - Two renovated buildings with multiple units and modern upgrades.
Where is this apartment building located?
The property is located at 2349 W 12th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Newly renovated in 2020 with updated electricity, plumbing, heating units, and hot water heaters.; Two detached buildings: a 2‑family (Building 1) and a 1‑family (Building 2).; Building 1 is a 2‑family with 4 levels, 16 rooms, 7 bedrooms and 3 bathrooms.
