Brick Triplex With Duplex
For Sale
$1,599,000
2487 E 21st Street, Brooklyn, NY 11235
Residential, Triplex, Brooklyn, NY
Property Size3,840 SF
Lot Size0.06 Acres
Price / SF$416.41
Days on Market215
Property Features for 2487 E 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
3,840 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8272
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Architectural style
Other
Listing Agency:
Momentum Real Estate LLC
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Feb 14
Changed: Sep 15
Last Checked: Sep 17 at 11:06PM
MLS# 499008
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 full-brick triplex, built in 1930, contains approximately 3,840 square feet on a 0.0574-acre lot. The layout includes seven bedrooms and three full bathrooms across three residential units. The first floor is arranged as a duplex with three bedrooms and one bathroom, while the second and third floors each offer two bedrooms and one bathroom. A finished basement provides separate front and rear entrances. Hardwood flooring, a refrigerator, and a stove are included, and shared driveway access serves the property. R4 zoning supports the multifamily configuration.
The property is located near schools, supermarkets, restaurants, and multiple transportation options in Brooklyn, NY 11235.
The property is located near schools, supermarkets, restaurants, and multiple transportation options in Brooklyn, NY 11235.
Key Highlights
- Three‑family brick residence built in 1930
- Approximately 3,840 square feet on a 0.0574‑acre lot
- Seven bedrooms and three full bathrooms
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
$134,483
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
8.41%
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%
$2,689,660
$2.7M
Cap Rate 7%
$1,921,186
$1.9M
Cap Rate 9%
$1,494,256
$1.5M
Market Conditions
NOI Build-Up for 3,840 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
$195.8K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$192.1K $50.03/SF
− OpEx
−$57.6K −$15.01/SF
NOI
$134.5K $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%
$2,689,660
Cap Rate 7%
$1,921,186
Cap Rate 9%
$1,494,256
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,483 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$1.67M
$1.47M – $1.95M
NOI $117,231 @ 7.0% cap · market cap 7.33%
Theoretical Best
Specialty Retail
$3.18M
$2.78M – $3.71M
NOI $222,566 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family residence with a duplex configuration, finished basement, shared driveway, and convenient access to neighborhood services and transportation.
Where is this triplex located?
The property is located at 2487 E 21st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Three‑family brick residence built in 1930; Approximately 3,840 square feet on a 0.0574‑acre lot; Seven bedrooms and three full bathrooms
