Legal Three-Family
New
For Sale
$1,425,000
253 TROY Ave, Brooklyn, NY 11213
Three full-floor apartments, a rear yard, basement storage, and roof access support flexible residential use.
Property Size1,100 SF
Lot Size0.04 Acres
Price / SF$431.82
Days on Market4
Property Features for 253 TROY Ave
General Information
Standard status
Active
Size
1,100 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Zoning
R6/C1-3
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,280
Amenities
private rear yard
roof access
basement storage
Building Details
Building Size
1,100 SF
Year Built
1925
Buildings
1
Stories
3
Units
3
Listing Agency:
(347) 381-4168
Listed By:
Jason Abrishami · License #30MI0708058
(347) 381-4168
Source:
Elliman
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 7:37AM
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 Jason Abrishami
Investment Insights
Based on property information with market context.
This 1925 townhouse contains approximately 3,300 square feet arranged as three two-bedroom, one-bathroom apartments, with one residence on each full floor. The first-floor unit includes separate living and dining areas, a windowed kitchen, approximately 10-foot ceilings, and access to a private rear yard. Upper apartments feature front and rear bedrooms, open living and dining areas, windowed kitchens, closets, and ceiling heights approaching 10 feet. A full-footprint basement adds storage and mechanical space, while the top floor connects to the roof. The property is expected to be delivered vacant at closing and is being offered as-is after renovation approximately 15 years ago.
A proper Certificate of Occupancy documents the legal three-family configuration. The 20-foot-by-89-foot lot supports a building measuring approximately 20 feet by 55 feet. Located in an R6/C1-3 zoning district, the property has a residential FAR of 3.0, current FAR of approximately 1.85, and estimated 2,047 square feet of additional buildable area, subject to independent architectural and zoning verification. WalkScore, bikeScore, and transitScore are 88, 74, and 98, respectively.
A proper Certificate of Occupancy documents the legal three-family configuration. The 20-foot-by-89-foot lot supports a building measuring approximately 20 feet by 55 feet. Located in an R6/C1-3 zoning district, the property has a residential FAR of 3.0, current FAR of approximately 1.85, and estimated 2,047 square feet of additional buildable area, subject to independent architectural and zoning verification. WalkScore, bikeScore, and transitScore are 88, 74, and 98, respectively.
Key Highlights
- Legal three‑family use confirmed by a proper Certificate of Occupancy
- Approximately 3,300‑square‑foot building with three two‑bedroom, one‑bathroom apartments
- Each apartment occupies a full floor; property expected to be delivered fully vacant at closing
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
$115,572
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
8.11%
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%
$2,311,440
$2.3M
Cap Rate 7%
$1,651,029
$1.7M
Cap Rate 9%
$1,284,133
$1.3M
Market Conditions
NOI Build-Up for 3,300 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
$168.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$165.1K $50.03/SF
− OpEx
−$49.5K −$15.01/SF
NOI
$115.6K $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%
$2,311,440
Cap Rate 7%
$1,651,029
Cap Rate 9%
$1,284,133
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three full-floor apartments, a rear yard, basement storage, and roof access support flexible residential use.
Where is this triplex located?
The property is located at 253 TROY Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Legal three‑family use confirmed by a proper Certificate of Occupancy; Approximately 3,300‑square‑foot building with three two‑bedroom, one‑bathroom apartments; Each apartment occupies a full floor; property expected to be delivered fully vacant at closing
