Brighton Beach Multifamily
3017 Brighton 5th St Brooklyn, NY 11235
3017 Brighton 5th St, Brooklyn, NY, 11235
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For Sale
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Multifamily property in Brighton Beach with development potential.
Property Size2,074 SF
Lot Size0.05 Acres
Price / SF$356.80
Days on Market1068
Property Features for 3017 Brighton 5th St
General Information
- Standard status
- Active
- Size
- 2,074 SF
- Lot size
- 0.05 Acres
- Property subtype
- Multifamily
Listing agency
Highcap Group
Listed by
Anthony Volman · License #NY
Source
Crexi
Added: Aug 21, 2023 Updated: Jul 6 at 8:22AM Checked: Jul 22 at 8:13AM
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 Highcap Group
Investment Insights
Based on property information with market context.
Located in Brighton Beach, Brooklyn, this property is suitable for a hotel, dormitory, or single room occupancy (SRO) development. The two-story building includes a basement and has a building size of 6,480 square feet. The property features 14 units, with 11 of the 14 units delivered vacant. The zoning is R6. The property size is 2,074 square feet and is being sold as is.
Key Highlights
- 15% CAP Rate
- 11 of 14 Units Delivered Vacant
- R6 Zoning (HOTEL / DORMITORY/ SRO)
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 | $117.5k | $56.64 |
| − Vacancy | −$2.3k | −$1.13 |
| EGI | $115.1k | $55.51 |
| − OpEx | −$51.8k | −$24.98 |
| NOI | $63.3k | $30.53 |
2,074 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$904.5K
$791.5K – $1.06M
NOI $63,317 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.00M
NOI $120,209 @ 7.0% cap · market cap 16.24%
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?
Multifamily property - Multifamily property in Brighton Beach with development potential.
Where is this multifamily property located?
The property is located at 3017 Brighton 5th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 15% CAP Rate; 11 of 14 Units Delivered Vacant; R6 Zoning (HOTEL / DORMITORY/ SRO)
