Residential Income
297 Pennsylvania Avenue Brooklyn, NY 11207
297 Pennsylvania Avenue, Brooklyn, NY, 11207
$1,100,000
For Sale
$1,100,000
Triplex with multiple 2- and 4-bedroom units generating stated annual gross income.
Property Size2,850 SF
Price / SF$385.96
Days on Market750
Property Features for 297 Pennsylvania Avenue
General Information
- Standard status
- Active
- Size
- 2,850 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1910
Listing agency
Compass
(917) 868-5696
Listed by
Troy Gordon · License #10401221016
(917) 868-5696
Source
Compass
Added: Jul 3, 2024 Updated: Jul 21 at 4:21PM Checked: Jul 21 at 4:21PM
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 Compass
Investment Insights
Based on property information with market context.
This residential income triplex is described as having an income basement unit with 2 bedrooms, along with two additional floors configured with 2- and 4-bedroom layouts. The property is presented with annual income and expense figures, including stated taxes, insurance, water, and gas, for an indicated NOI amount.
The offering is for sale at 297 Pennsylvania Avenue in Brooklyn, NY 11207. The public remarks include an annual gross total of $81,600 and annual expenses totaling $12,500, resulting in a stated NOI of $69,100 and a stated 7% cap rate.
All details above are based on the figures provided in the public remarks.
The offering is for sale at 297 Pennsylvania Avenue in Brooklyn, NY 11207. The public remarks include an annual gross total of $81,600 and annual expenses totaling $12,500, resulting in a stated NOI of $69,100 and a stated 7% cap rate.
All details above are based on the figures provided in the public remarks.
Key Highlights
- Triplex with stated annual gross income of $81,600
- Unit mix: basement 2‑bedroom ($1,550), 1st floor 2‑bedroom ($2,500), 2nd floor 4‑bedroom ($2,800)
- Stated annual total expenses: $12,500 (taxes $3,000, insurance $3,000, water $3,500, gas $3,000)
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 | $145.4k | $51.00 |
| − Vacancy | −$2.8k | −$0.97 |
| EGI | $142.6k | $50.03 |
| − OpEx | −$42.8k | −$15.01 |
| NOI | $99.8k | $35.02 |
2,850 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,812 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,008 @ 7.0% cap · market cap 7.91%
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $165,186 @ 7.0% cap · market cap 15.02%
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 - Triplex with multiple 2- and 4-bedroom units generating stated annual gross income.
Where is this triplex located?
The property is located at 297 Pennsylvania Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Triplex with stated annual gross income of $81,600; Unit mix: basement 2‑bedroom ($1,550), 1st floor 2‑bedroom ($2,500), 2nd floor 4‑bedroom ($2,800); Stated annual total expenses: $12,500 (taxes $3,000, insurance $3,000, water $3,500, gas $3,000)
