Income-Generating Multifamily Property For
For Sale
$2,095,000
Pending
335 21st St, Brooklyn, NY 11215
Multi-family property with high rent roll and development potential.
Property Size2,800 SF
Lot Size0.06 Acres
Days on Market215
Property Features for 335 21st St
General Information
Standard status
Pending
Size
2,800 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,492
Building Details
Building Size
2,800 SF
Year Built
1899
Units
4
Listing Agency:
Compass
Listed By:
Jack LeGuelaff · License #10401326617
(516) 232-4114
Source:
Elliman
Added: Mar 11
Changed: Sep 27
Last Checked: Oct 11 at 7:16AM
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.
The multi-family property at 335 21st Street offers income potential with a high rent roll and a 6% cap rate. The property includes a rear duplex, maximizing rental opportunities on a 25x100 lot. With 2,204 sq ft of unused FAR, there is value-add potential, making it suitable for future condo development or expansion. The property is located in a rapidly growing area and benefits from low taxes. The high cap rate, combined with value-add opportunities, ensures cash flow. This property presents investment with development possibilities.
Key Highlights
- High 6% Cap Rate: Ensures strong cash flow.
- Significant Value‑Add Potential: Features 2,204 sq ft of unused FAR for future development.
- Income‑Producing Asset: Multi‑family property with a high rent roll.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,061
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,961,220
$2.0M
Cap Rate 7%
$1,400,871
$1.4M
Cap Rate 9%
$1,089,567
$1.1M
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$142.8K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$140.1K $50.03/SF
− OpEx
−$42.0K −$15.01/SF
NOI
$98.1K $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 Rate 5%
$1,961,220
Cap Rate 7%
$1,400,871
Cap Rate 9%
$1,089,567
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.63M
NOI $98,061 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,481 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.70M
NOI $162,288 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,630
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Multi-family property with high rent roll and development potential.
Where is this duplex located?
The property is located at 335 21st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: High 6% Cap Rate: Ensures strong cash flow.; Significant Value‑Add Potential: Features 2,204 sq ft of unused FAR for future development.; Income‑Producing Asset: Multi‑family property with a high rent roll.
