Renovated Triplex with Private
For Sale
$1,995,000
237 74th Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size2,750 SF
Lot Size0.05 Acres
Price / SF$725.45
Days on Market92
Property Features for 237 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
Central Air - Split, Porch, Refrigerator, Stove
Basement
Partial, Finished
Subdivision
Bay Ridge
Standard status
Active
Size
2,750 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
13047
Building Details
Year built
1970
Floors in Building
2
Number of units
3
Flooring type
Ceramic, Hardwood, Tile
Building materials
Brick
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 887-5708
Added: Jul 2
Changed: Sep 17
Last Checked: Oct 1 at 3:06PM
MLS# 501525
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 three-family property offers a renovated interior with new windows, updated electrical service, five bathrooms, and oak flooring. The layout includes two full kitchens plus a summer kitchen, along with central air via split systems, ceramic and tile finishes, a porch, and brick construction. The property also includes a private driveway, a one-car garage, and parking for three cars.
Located at 237 74th Street in Brooklyn, the property is near Third Avenue and nearby transportation. Shore Road and the ferry to Manhattan are also identified in the surrounding area. The lot measures 0.0459 acres, and the property is zoned R5B.
Located at 237 74th Street in Brooklyn, the property is near Third Avenue and nearby transportation. Shore Road and the ferry to Manhattan are also identified in the surrounding area. The lot measures 0.0459 acres, and the property is zoned R5B.
Key Highlights
- Renovated three‑family property with new windows and electrical service
- Two full kitchens plus one summer kitchen
- Five bathrooms and oak flooring throughout
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
$96,310
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
4.83%
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%
$1,926,200
$1.9M
Cap Rate 7%
$1,375,857
$1.4M
Cap Rate 9%
$1,070,111
$1.1M
Market Conditions
NOI Build-Up for 2,750 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
$140.3K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$137.6K $50.03/SF
− OpEx
−$41.3K −$15.01/SF
NOI
$96.3K $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%
$1,926,200
Cap Rate 7%
$1,375,857
Cap Rate 9%
$1,070,111
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.20M – $1.61M
NOI $96,310 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,955 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,390 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,861
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R5B-zoned multifamily property with updated systems, multiple kitchens, and garage parking.
Where is this triplex located?
The property is located at 237 74th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Renovated three‑family property with new windows and electrical service; Two full kitchens plus one summer kitchen; Five bathrooms and oak flooring throughout
