Three-Unit Brick
For Sale
$1,299,000
345 53rd Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size2,276 SF
Lot Size0.04 Acres
Price / SF$570.74
Days on Market63
Property Features for 345 53rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 5
Patio and Porch features
Patio
Interior features
Fireplace, Patio Garden, Refrigerator, Stove
Fireplace
1
Basement
Unfinished
Subdivision
Sunset Park
Standard status
Active
Size
2,276 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2574
Building Details
Year built
1920
Floors in Building
4
Number of units
3
Flooring type
Hardwood, Laminate, Tile
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Anthony Lopez · License #10401325496
(917) 463-8483
Added: Jul 31
Changed: Sep 30
Last Checked: Oct 1 at 3:06PM
MLS# 503407
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,276-square-foot brick triplex contains three residential units, including a duplex occupying the first floor. The property was built in 1920 and includes a fireplace, patio, and an unfinished basement with separate front access. Interior finishes include hardwood, tile, and laminate flooring. The building will be delivered vacant at closing.
Department of Buildings-approved plans for a full renovation will transfer to the purchaser, with supporting documents available upon request. Major mechanical updates include a boiler replaced approximately six years ago and two hot water heaters replaced within the past four years. The property is zoned R6B and is positioned near the Brooklyn-Queens Expressway, public transportation, shopping, dining, and neighborhood amenities.
Department of Buildings-approved plans for a full renovation will transfer to the purchaser, with supporting documents available upon request. Major mechanical updates include a boiler replaced approximately six years ago and two hot water heaters replaced within the past four years. The property is zoned R6B and is positioned near the Brooklyn-Queens Expressway, public transportation, shopping, dining, and neighborhood amenities.
Key Highlights
- Three‑unit triplex with first‑floor duplex configuration
- 2276 Square Feet of building area on 0.0418 acres
- Department of Buildings‑approved renovation plans transfer at closing
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
$67,767
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
5.22%
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%
$1,355,340
$1.4M
Cap Rate 7%
$968,100
$968.1K
Cap Rate 9%
$752,967
$753.0K
Market Conditions
NOI Build-Up for 2,276 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
$101.1K $44.40/SF
− Vacancy
−$4.2K −$1.86/SF
EGI
$96.8K $42.54/SF
− OpEx
−$29.0K −$12.76/SF
NOI
$67.8K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,355,340
Cap Rate 7%
$968,100
Cap Rate 9%
$752,967
Alternative Uses
Best Use
Multifamily LT 5
$968.1K
$847.1K – $1.13M
NOI $67,767 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$867.0K
$758.7K – $1.01M
NOI $60,693 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,283 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,087
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-unit property with approved renovation plans and an unfinished basement.
Where is this triplex located?
The property is located at 345 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑unit triplex with first‑floor duplex configuration; 2276 Square Feet of building area on 0.0418 acres; Department of Buildings‑approved renovation plans transfer at closing
