Two-Story Multifamily
For Sale
$1,200,000
35 Melrose St, Brooklyn, NY 11206
Vacant Brooklyn property with period character, dual kitchens, private outdoor space, and flexible interior room arrangements.
Property Size1,725 SF
Lot Size0.04 Acres
Price / SF$695.65
Days on Market23
Property Features for 35 Melrose St
General Information
Standard status
Active
Size
1,725 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Zoning
R6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$157
Amenities
rear yard
patio
Building Details
Building Size
1,725 SF
Year Built
1899
Buildings
1
Stories
2
Listed By:
Chris Lucas
(718) 916-9266
Source:
Elliman
Added: Sep 18
Changed: Oct 7
Last Checked: Oct 9 at 10:47PM
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 Chris Lucas
Investment Insights
Based on property information with market context.
Located at 35 Melrose Street in Brooklyn, this two-story multifamily residence combines historic detailing with a flexible interior layout. The approximately 1,725-square-foot above-grade area includes three bedrooms, two full bathrooms, two kitchens, living and dining rooms, and additional rooms suitable for varied use. High ceilings, hardwood flooring, decorative moldings, and a decorative fireplace retain the character of the 1899 structure. A full basement adds approximately 750 square feet of excluded area.
The property occupies a 20' x 95' lot totaling approximately 1,900 square feet, with a deep rear yard and patio. The roof and electrical system were updated approximately five years ago. The property is zoned R6, currently uses 0.84 FAR, and is delivered vacant. Residential FAR is 2.2 and facility FAR is 4.8; buyers evaluating expansion or development should independently confirm allowable floor area and permitted uses with qualified professionals. Myrtle Avenue JMZ service is nearby, and the property has walkScore 90, transitScore 100, and bikeScore 78.
The property occupies a 20' x 95' lot totaling approximately 1,900 square feet, with a deep rear yard and patio. The roof and electrical system were updated approximately five years ago. The property is zoned R6, currently uses 0.84 FAR, and is delivered vacant. Residential FAR is 2.2 and facility FAR is 4.8; buyers evaluating expansion or development should independently confirm allowable floor area and permitted uses with qualified professionals. Myrtle Avenue JMZ service is nearby, and the property has walkScore 90, transitScore 100, and bikeScore 78.
Key Highlights
- Approximately 1,725 square feet above grade with 3 bedrooms, 2 full bathrooms, and 2 kitchens
- 20' x 95' lot totaling approximately 1,900 square feet
- Full basement with approximately 750 additional square feet of excluded area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,662
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,053,240
$1.1M
Cap Rate 7%
$752,314
$752.3K
Cap Rate 9%
$585,133
$585.1K
Market Conditions
NOI Build-Up for 1,725 SF
Gross rent
$97.7K $56.64/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$95.7K $55.51/SF
− OpEx
−$43.1K −$24.98/SF
NOI
$52.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,053,240
Cap Rate 7%
$752,314
Cap Rate 9%
$585,133
Alternative Uses
Best Use
Apartment 5plus
$752.3K
$658.3K – $877.7K
NOI $52,662 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $99,981 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
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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?
Multifamily property - Vacant Brooklyn property with period character, dual kitchens, private outdoor space, and flexible interior room arrangements.
Where is this multifamily property located?
The property is located at 35 Melrose St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 1,725 square feet above grade with 3 bedrooms, 2 full bathrooms, and 2 kitchens; 20' x 95' lot totaling approximately 1,900 square feet; Full basement with approximately 750 additional square feet of excluded area
