Turnkey 6-Unit Multifamily
For Sale
$2,250,000
34 Sutton Street Brooklyn, Ny, NY 11222
Six-family property includes renovated units, updated systems, and a finished basement with direct access to the backyard.
Property Size4,125 SF
Price / SF$545.45
Days on Market56
Property Features for 34 Sutton Street Brooklyn
General Information
Standard status
Active
Size
4,125 SF
Zoning
R6B
Additional Details
Business Included
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,354
Amenities
Finished,Full
Yes
Finished, Full
Back Yard,Fenced,Front Yard
Public
No
4125
Building Details
Building Size
4,125 SF
Year Built
1940
Listed By:
Sabrina Sookdeo
(718) 684-8000
Source:
Parkassets
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 13 at 4:53AM
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 Sabrina Sookdeo
Investment Insights
Based on property information with market context.
This well-maintained six-family building is offered as a turnkey residential income property with 10 bedrooms and 7 full bathrooms. The finished lower level includes an additional full bath and flexible interior space with direct access to the backyard. The building includes four renovated apartments, three updated kitchens, and a professionally installed 24-hour security camera system.
The unit mix comprises three free-market apartments, two rent-stabilized apartments, and one owner-occupied apartment that is currently vacant.
Recent capital improvements include a new boiler (approximately one year old), a roof (approximately three years old), and siding (approximately two years old). Financials, leases, operating statements, and maintenance records are available upon request.
The unit mix comprises three free-market apartments, two rent-stabilized apartments, and one owner-occupied apartment that is currently vacant.
Recent capital improvements include a new boiler (approximately one year old), a roof (approximately three years old), and siding (approximately two years old). Financials, leases, operating statements, and maintenance records are available upon request.
Key Highlights
- 1940‑built 6‑family building with 10 bedrooms and 7 full bathrooms
- Unit mix: 3 free‑market apartments, 2 rent‑stabilized apartments, and 1 owner‑occupied unit (currently vacant)
- Four apartments renovated; three updated kitchens throughout the building
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
$129,060
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
5.74%
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%
$2,581,200
$2.6M
Cap Rate 7%
$1,843,714
$1.8M
Cap Rate 9%
$1,434,000
$1.4M
Market Conditions
NOI Build-Up for 4,125 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
$247.0K $59.88/SF
− Vacancy
−$12.4K −$2.99/SF
EGI
$234.7K $56.89/SF
− OpEx
−$105.6K −$25.60/SF
NOI
$129.1K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /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%
$2,581,200
Cap Rate 7%
$1,843,714
Cap Rate 9%
$1,434,000
Alternative Uses
Best Use
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $129,060 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.27M
$8.98M – $11.98M
NOI $718,740 @ 7.0% cap · market cap 31.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-family property includes renovated units, updated systems, and a finished basement with direct access to the backyard.
Where is this apartment building located?
The property is located at 34 Sutton Street Brooklyn Ny, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 1940‑built 6‑family building with 10 bedrooms and 7 full bathrooms; Unit mix: 3 free‑market apartments, 2 rent‑stabilized apartments, and 1 owner‑occupied unit (currently vacant); Four apartments renovated; three updated kitchens throughout the building
