Rent-Stabilized Six-Unit Apartment
For Sale
$1,750,000
Pending
238 26th Street, Brooklyn, NY 11232
Three-story, six-unit building with convertible two-bedroom layouts and private outdoor space for two units.
Property Size5,000 SF
Days on Market110
Property Features for 238 26th Street
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,272
Building Details
Building Size
5,000 SF
Year Built
1955
Listing Agency:
Corcoran Group
Listed By:
Alexandra Gupta · License #10301217843
(347) 683-4433
Source:
Howardhannanyc
Added: Jul 9
Changed: Oct 25
Last Checked: Oct 25 at 1:59AM
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 Corcoran Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Offered for sale: a rent-stabilized six-unit, three-story multifamily building. The property is configured with two apartments per floor, for a total of six units, and each unit is laid out as a convertible two-bedroom. The building is described as well-maintained and benefits from an abundance of natural light. Apartments 1L and 1R also include private outdoor space.
The property is located in Greenwood Heights, Brooklyn, and is positioned just minutes from South Slope. It sits on a 20' x 100' lot with a building footprint of approximately 25' x 50', totaling approximately 5,000 interior square feet. Transportation and walkability are highlighted by very strong walk and transit scores (WalkScore: 98, transitScore: 100) and a bike score of 79 (Very Bikeable).
The property is located in Greenwood Heights, Brooklyn, and is positioned just minutes from South Slope. It sits on a 20' x 100' lot with a building footprint of approximately 25' x 50', totaling approximately 5,000 interior square feet. Transportation and walkability are highlighted by very strong walk and transit scores (WalkScore: 98, transitScore: 100) and a bike score of 79 (Very Bikeable).
Key Highlights
- 1955‑built, three‑story multifamily with 6 apartments (2 per floor)
- ~5,000 interior SF across a 25' x 50' building footprint on a 20' x 100' lot
- All units are configured as convertible two‑bedroom layouts with an abundance of natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,645
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,052,900
$3.1M
Cap Rate 7%
$2,180,643
$2.2M
Cap Rate 9%
$1,696,056
$1.7M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$283.2K $56.64/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$277.5K $55.51/SF
− OpEx
−$124.9K −$24.98/SF
NOI
$152.6K $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%
$3,052,900
Cap Rate 7%
$2,180,643
Cap Rate 9%
$1,696,056
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,645 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
3,736
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story, six-unit building with convertible two-bedroom layouts and private outdoor space for two units.
Where is this apartment building located?
The property is located at 238 26th Street 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: 1955‑built, three‑story multifamily with 6 apartments (2 per floor); ~5,000 interior SF across a 25' x 50' building footprint on a 20' x 100' lot; All units are configured as convertible two‑bedroom layouts with an abundance of natural light
