Renovated Two-Family
For Sale
$988,000
341 E 51st Street, Brooklyn, NY 11203
Separate three-bedroom apartments provide a vacant first-floor residence and a tenant-occupied upper unit.
Property Size1,810 SF
Price / SF$545.86
Days on Market48
Property Features for 341 E 51st Street
General Information
Standard status
Active
Size
1,810 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$45,456
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,020
Amenities
First Floor Bedroom
First Floor Full Bath
Eat-in Kitchen
Building Details
Building Size
1,810 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Source:
Clairedleone
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 26 at 3:43AM
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 Mitra Hakimi Realty Group LLC
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Investment Insights
Based on property information with market context.
At 341 E 51st Street in Brooklyn, this renovated two-family property contains two three-bedroom, one-bathroom apartments. The first-floor residence has an open kitchen and living area and is vacant. A tenant occupies the second-floor apartment. A full basement provides recreation and storage space, with a separate area for the boiler.
The property is in East Flatbush between Linden Boulevard and Church Avenue. Nearby transportation includes the B35 and B46 bus lines, with access to the 2, 3, 4 and 5 subway lines in the surrounding area. Neighborhood shopping, supermarkets, restaurants, parks and schools are also nearby.
The property is in East Flatbush between Linden Boulevard and Church Avenue. Nearby transportation includes the B35 and B46 bus lines, with access to the 2, 3, 4 and 5 subway lines in the surrounding area. Neighborhood shopping, supermarkets, restaurants, parks and schools are also nearby.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bathroom
- Vacant first‑floor unit with open kitchen and living area
- Tenant‑occupied second‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,389
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,780
$1.3M
Cap Rate 7%
$905,557
$905.6K
Cap Rate 9%
$704,322
$704.3K
Market Conditions
NOI Build-Up for 1,810 SF
Gross rent
$92.3K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$90.6K $50.03/SF
− OpEx
−$27.2K −$15.01/SF
NOI
$63.4K $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%
$1,267,780
Cap Rate 7%
$905,557
Cap Rate 9%
$704,322
Alternative Uses
Best Use
Multifamily LT 5
$905.6K
$792.4K – $1.06M
NOI $63,389 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$789.4K
$690.7K – $921.0K
NOI $55,257 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $104,908 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,411
Businesses Nearby
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Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate three-bedroom apartments provide a vacant first-floor residence and a tenant-occupied upper unit.
Where is this duplex located?
The property is located at 341 E 51st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bathroom; Vacant first‑floor unit with open kitchen and living area; Tenant‑occupied second‑floor apartment
