7-Unit Rent-Stabilized Apartment
New
For Sale
$1,595,000
334 58th St, Brooklyn, NY 11220
Income-producing multifamily property with rent-stabilized tenancy, updated mechanicals, and a mix of renovated and value-add apartments.
Property Size4,400 SF
Days on Market2
Property Features for 334 58th St
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$15,805
Building Details
Building Size
4,400 SF
Year Built
1906
Buildings
1
Stories
3
Listing Agency:
Remax Real Estate Professionals
Listed By:
Hugo Salazar · License #31SA1010105
(718) 532-2000
Source:
Elliman
Added: Sep 10
Last Checked: Sep 10 at 3:08PM
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 Remax Real Estate Professionals
Investment Insights
Based on property information with market context.
This 7-unit apartment building at 334 58th St features functional residential layouts, natural light, and a mix of interior finishes. Several apartments include updated kitchens and bathrooms, while other units offer potential for future improvements. The property also has maintained common areas and updated mechanical systems, with rent-stabilized tenancy across the building.
The property is located in Sunset Park, Brooklyn, near Sunset Park, Industry City, shopping, dining, and transportation services. Nearby transit options include the R train and express bus service. WalkScore is 97, TransitScore is 86, and BikeScore is 82. Built in 1906, the property provides a seven-unit residential configuration in an established Brooklyn neighborhood.
The property is located in Sunset Park, Brooklyn, near Sunset Park, Industry City, shopping, dining, and transportation services. Nearby transit options include the R train and express bus service. WalkScore is 97, TransitScore is 86, and BikeScore is 82. Built in 1906, the property provides a seven-unit residential configuration in an established Brooklyn neighborhood.
Key Highlights
- Seven residential units with rent‑stabilized tenancy
- Several apartments feature updated kitchens, bathrooms, and modern finishes
- Updated mechanical systems and maintained common areas
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
$117,333
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
7.36%
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%
$2,346,660
$2.3M
Cap Rate 7%
$1,676,186
$1.7M
Cap Rate 9%
$1,303,700
$1.3M
Market Conditions
NOI Build-Up for 4,400 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
$221.8K $50.40/SF
− Vacancy
−$8.4K −$1.92/SF
EGI
$213.3K $48.48/SF
− OpEx
−$96.0K −$21.82/SF
NOI
$117.3K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,346,660
Cap Rate 7%
$1,676,186
Cap Rate 9%
$1,303,700
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,333 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,668 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
6,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily property with rent-stabilized tenancy, updated mechanicals, and a mix of renovated and value-add apartments.
Where is this apartment building located?
The property is located at 334 58th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Seven residential units with rent‑stabilized tenancy; Several apartments feature updated kitchens, bathrooms, and modern finishes; Updated mechanical systems and maintained common areas
