East Flatbush Multifamily
For Sale
$995,000
Pending
315 E 28TH St, Brooklyn, NY 11226
Charming multi-family home in vibrant East Flatbush neighborhood.
Property Size1,000 SF
Lot Size0.05 Acres
Days on Market183
Property Features for 315 E 28TH St
General Information
Standard status
Pending
Size
1,000 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,648
Building Details
Building Size
1,000 SF
Year Built
1901
Stories
2
Units
2
Listing Agency:
111 Fifth
Listed By:
Christian Newton · License #10301223470
(212) 321-7153
Source:
Elliman
Added: Apr 28
Changed: Oct 25
Last Checked: Oct 26 at 4:11PM
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 111 Fifth
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Investment Insights
Based on property information with market context.
Located in the East Flatbush neighborhood of Brooklyn, this multi-family home offers 2,080 sqft of building size on a 2,000 sqft lot. The residence features 2.5 bedrooms on the second floor and 2 bedrooms on the first floor. The finished basement includes 2 extra rooms and 2 full baths. The home features original, well-maintained flooring and cabinetry. The kitchen is equipped with stainless steel appliances, and the living room on the first floor features a textured ceiling. All bathrooms are updated with modern fixtures. The fully finished basement includes 2 additional rooms, 2 full baths, and a kitchen, offering flexible space. The property includes a backyard with a deck and a patio at the front of the house. The roof and exterior siding are in excellent condition. The home benefits from its location in a friendly, vibrant neighborhood with access to parks, schools, shopping centers, and public transportation. The property is located in a Walker's Paradise with a walk score of 90 and is also a Rider's Paradise with a transit score of 97. The bike score is 66, making it bikeable. This property will be sold with tenants on the second floor.
Key Highlights
- Seller offers creative financing options, including seller financing at a competitive 4% interest rate and willingness to buy down mortgage points.
- Finished basement with 2 rooms, 2 full baths, and a kitchen provides flexible space for various uses.
- Located in a vibrant East Flatbush neighborhood with excellent walk, bike, and transit scores (90, 66, and 97 respectively).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,762
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,240
$975.2K
Cap Rate 7%
$696,600
$696.6K
Cap Rate 9%
$541,800
$541.8K
Market Conditions
NOI Build-Up for 2,080 SF
Gross rent
$92.4K $44.40/SF
− Vacancy
−$3.7K −$1.78/SF
EGI
$88.7K $42.62/SF
− OpEx
−$39.9K −$19.18/SF
NOI
$48.8K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,240
Cap Rate 7%
$696,600
Cap Rate 9%
$541,800
Alternative Uses
Best Use
Apartment 5plus
$696.6K
$609.5K – $812.7K
NOI $48,762 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$899.6K – $1.20M
NOI $71,965 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,285
Businesses Nearby
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Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Charming multi-family home in vibrant East Flatbush neighborhood.
Where is this multifamily property located?
The property is located at 315 E 28TH St Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Seller offers creative financing options, including seller financing at a competitive 4% interest rate and willingness to buy down mortgage points.; Finished basement with 2 rooms, 2 full baths, and a kitchen provides flexible space for various uses.; Located in a vibrant East Flatbush neighborhood with excellent walk, bike, and transit scores (90, 66, and 97 respectively).
