Renovated Two-Family
For Sale
$988,000
341 E 51st Street, Brooklyn, NY 11203
Residential Income, Brooklyn, NY
Property Size2,303 SF
Lot Size0.05 Acres
Price / SF$429.01
Days on Market48
Property Features for 341 E 51st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
Driveway, Off Street
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Full
Elementary school
Ps 268 Emma Lazarus
Middle school
Middle School Of Media Law And Fine Arts (The)
High school
Contact Agent
Elementary school district
Brooklyn 18
Middle school district
Brooklyn 18
High school district
Contact Agent
Standard status
Active
APN
04677-0063
Lot size
0.05 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6020
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Buildings
1
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi
(718) 268-5588
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 26 at 11:06AM
MLS# 1046116
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This renovated brick two-family property has two three-bedroom, one-bathroom residences. The first-floor unit includes an eat-in kitchen and an open kitchen and living area; the second-floor unit is occupied by a tenant. The first floor is vacant. A full basement provides recreation and storage areas, along with a separate boiler space. The two upper floors total approximately 1,692 square feet, or approximately 2,303 square feet when the basement is included. The home was built in 1910 and occupies a 0.0459-acre lot.
The property is on East 51st Street in Brooklyn, between Linden Boulevard and Church Avenue. Nearby bus service includes the B35 and B46, with access to the 2, 3, 4 and 5 subway lines in the surrounding area. Neighborhood shopping, supermarkets, restaurants, parks, schools and everyday services are also nearby.
The property is on East 51st Street in Brooklyn, between Linden Boulevard and Church Avenue. Nearby bus service includes the B35 and B46, with access to the 2, 3, 4 and 5 subway lines in the surrounding area. Neighborhood shopping, supermarkets, restaurants, parks, schools and everyday services are also nearby.
Key Highlights
- Two residential units, each with 3 bedrooms and 1 full bathroom
- First‑floor unit is vacant; second‑floor unit is tenant‑occupied
- Approximately 1,692 sq. ft. across the first and second floors; approximately 2,303 sq. ft. including the basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,655
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,613,100
$1.6M
Cap Rate 7%
$1,152,214
$1.2M
Cap Rate 9%
$896,167
$896.2K
Market Conditions
NOI Build-Up for 2,303 SF
Gross rent
$117.5K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.2K $50.03/SF
− OpEx
−$34.6K −$15.01/SF
NOI
$80.7K $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%
$1,613,100
Cap Rate 7%
$1,152,214
Cap Rate 9%
$896,167
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,655 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$1.00M
$878.9K – $1.17M
NOI $70,308 @ 7.0% cap · market cap 7.12%
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.22M
NOI $133,482 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,305
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 - A vacant first-floor residence is paired with a tenant-occupied upper unit in this two-unit property.
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 residential units, each with 3 bedrooms and 1 full bathroom; First‑floor unit is vacant; second‑floor unit is tenant‑occupied; Approximately 1,692 sq. ft. across the first and second floors; approximately 2,303 sq. ft. including the basement
