Brooklyn Multifamily Investment
253 Saint Nicholas Avenue Brooklyn, NY 11237
253 Saint Nicholas Avenue, Brooklyn, NY, 11237
$1,250,000
For Sale
$1,250,000
MULTI_FAMILY - Brooklyn, NY
Property Size1,867 SF
Lot Size0.06 Acres
Price / SF$669.56
Days on Market193
Property Features for 253 Saint Nicholas Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- Off Street
- Basement
- Partially Finished, Storage Space
- Standard status
- Active
- APN
- 3312-4
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 17806
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1931
- Number of units
- 8
- Building materials
- Brick
Listing agency
Keller Williams Rlty Landmark
(718) 475-2700
Listed by
Lian Rong Sun CBR SFR · License #10301213443
(917) 306-5735
Added: Jan 10 Updated: Jul 7 at 3:40PM Checked: Jul 22 at 6:06AM
MLS# 950326
Copyright © 2026 OneKey MLS. 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 well-maintained, eight-unit income-generating building is located in the heart of Bushwick. The building has a width of 26.67 feet and a depth of 70 feet. It features a natural gas heating system with a recently installed boiler. The front and back units have two spacious bedrooms that can be converted into three bedrooms at the owner's discretion. The property offers a solid 6% return on investment. The current rental income for seven units is $112,920 annually. One unit will be vacant at closing, projecting an annualized income of $132,120, with annual expenses of $53,806. The lot size is 0.0551 acres.
Key Highlights
- 8‑unit income‑generating building in Bushwick
- Natural gas heating with a recently installed boiler
- Brick construction; building size is 26.67 ft wide and 70 ft deep
Local Financial Insights For Apartment 5plus
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 | $105.7k | $56.64 |
| − Vacancy | −$2.1k | −$1.13 |
| EGI | $103.6k | $55.51 |
| − OpEx | −$46.6k | −$24.98 |
| NOI | $57.0k | $30.53 |
1,867 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$814.2K
$712.4K – $949.9K
NOI $56,995 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,206 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit building in Bushwick with income potential.
Where is this apartment building located?
The property is located at 253 Saint Nicholas Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8‑unit income‑generating building in Bushwick; Natural gas heating with a recently installed boiler; Brick construction; building size is 26.67 ft wide and 70 ft deep
