Triplex with 3
For Sale
$1,650,000
240 67th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size2,952 SF
Lot Size0.06 Acres
Price / SF$558.94
Days on Market18
Property Features for 240 67th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2
Interior features
A/C Unit - Window
Basement
Unfinished
Subdivision
Bay Ridge
Standard status
Active
Size
2,952 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4799
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Carpet, Hardwood
Building materials
Brick, Masonry
Roof type
Asphalt, Flat
Listing Agency:
Jalen Real Estate Corp
(718) 439-6464
Listed By:
Nina Atayants
(718) 439-6464
Added: Jul 27
Changed: Aug 5
Last Checked: Aug 13 at 10:06AM
MLS# 503327
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.
Fully vacant triplex at 240 67th Street in Brooklyn, NY 11220. The building has three floors and is configured with one 1-bedroom unit, one 2-bedroom unit, and one 3-bedroom unit. The property is currently described as used as 2 units, with 3 total units on-site.
The building totals 2,952 square feet and sits on a 0.0574-acre lot. Constructed in brick/masonry and built in 1910, the structure features a flat asphalt roof. Interior finishes include carpet and hardwood flooring, and an A/C unit is listed as a window unit.
Zoned R4-1, this is a straightforward multi-family opportunity for buyers looking at residential income use within the existing three-floor unit configuration.
The building totals 2,952 square feet and sits on a 0.0574-acre lot. Constructed in brick/masonry and built in 1910, the structure features a flat asphalt roof. Interior finishes include carpet and hardwood flooring, and an A/C unit is listed as a window unit.
Zoned R4-1, this is a straightforward multi-family opportunity for buyers looking at residential income use within the existing three-floor unit configuration.
Key Highlights
- Fully vacant triplex with three‑floor unit mix: 1‑bedroom, 2‑bedroom, and 3‑bedroom
- Total building size 2,952 SF
- Lot size 0.0574 acres
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
$87,895
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
5.33%
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%
$1,757,900
$1.8M
Cap Rate 7%
$1,255,643
$1.3M
Cap Rate 9%
$976,611
$976.6K
Market Conditions
NOI Build-Up for 2,952 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
$131.1K $44.40/SF
− Vacancy
−$5.5K −$1.86/SF
EGI
$125.6K $42.54/SF
− OpEx
−$37.7K −$12.76/SF
NOI
$87.9K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,757,900
Cap Rate 7%
$1,255,643
Cap Rate 9%
$976,611
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.46M
NOI $87,895 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$1.12M
$984.0K – $1.31M
NOI $78,720 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,959 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
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 - R4-1 zoned, fully vacant triplex with window A/C and three-floor unit mix of 1-, 2-, and 3-bedroom layouts.
Where is this triplex located?
The property is located at 240 67th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully vacant triplex with three‑floor unit mix: 1‑bedroom, 2‑bedroom, and 3‑bedroom; Total building size 2,952 SF; Lot size 0.0574 acres
