Brick Three-Family with
2516 Cropsey Avenue Brooklyn, NY 11214
2516 Cropsey Avenue, Brooklyn, NY, 11214
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For Sale
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Solid brick three-family with built-in garage, private driveways, and well-maintained units on an R6-zoned lot.
Property Size2,897 SF
Lot Size0.07 Acres
Price / SF$620.99
Days on Market140
Property Features for 2516 Cropsey Avenue
General Information
- Standard status
- Active
- Size
- 2,897 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1955
Listing agency
REMAX EDGE
Listed by
Xiao Zhu · License #New York
Source
Crexi
Added: Mar 4 Updated: Jul 22 at 3:02AM Checked: Jul 22 at 3:02AM
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 EDGE
Investment Insights
Based on property information with market context.
Solid brick three-family residence in move-in condition, configured with a 3-bedroom unit on the top floor, a 2-bedroom unit on the middle floor with front porch and rear deck, and a 2-bedroom unit on the first floor with a built-in garage in the front. The property also includes double private driveways providing ample parking.
The building sits on a 32.33 x 100' lot and is described as having R6 zoning with additional buildable space of about 4,945 sq ft. Convenient to transit options including the D train and B1 on the 25th Ave station, as well as the B6/B82 buses on Cropsey Ave, with nearby access to shopping and other neighborhood amenities.
As presented, the offering includes legal three-family income potential, with current rents of $2,700 per month for the top-floor 3-bedroom unit and $2,500 per month for each of the two-bedroom units on the middle and first floors.
The building sits on a 32.33 x 100' lot and is described as having R6 zoning with additional buildable space of about 4,945 sq ft. Convenient to transit options including the D train and B1 on the 25th Ave station, as well as the B6/B82 buses on Cropsey Ave, with nearby access to shopping and other neighborhood amenities.
As presented, the offering includes legal three-family income potential, with current rents of $2,700 per month for the top-floor 3-bedroom unit and $2,500 per month for each of the two-bedroom units on the middle and first floors.
Key Highlights
- Solid brick legal three‑family built in 1955 with built‑in garage and front porch plus rear deck
- Rent roll: top‑floor 3BR at $2,700/mo; middle‑floor 2BR at $2,500/mo; first‑floor 2BR (with built‑in garage) has current rent listed as part of the property
- Double private 10‑ft driveway(s) with ample parking spaces
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.2k | $40.80 |
| − Vacancy | −$5.3k | −$1.84 |
| EGI | $112.9k | $38.96 |
| − OpEx | −$33.9k | −$11.69 |
| NOI | $79.0k | $27.27 |
2,897 SF · lease $40.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.7K – $1.32M
NOI $79,015 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$1.01M
$885.2K – $1.18M
NOI $70,815 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,298 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Solid brick three-family with built-in garage, private driveways, and well-maintained units on an R6-zoned lot.
Where is this triplex located?
The property is located at 2516 Cropsey Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Solid brick legal three‑family built in 1955 with built‑in garage and front porch plus rear deck; Rent roll: top‑floor 3BR at $2,700/mo; middle‑floor 2BR at $2,500/mo; first‑floor 2BR (with built‑in garage) has current rent listed as part of the property; Double private 10‑ft driveway(s) with ample parking spaces
