Victorian Home in Ditmas
351 E 16th St Brooklyn, NY 11226
For Sale
Contact for pricing
Charming Victorian home with investment potential in prime location.
Property Size3,315 SF
Lot Size0.11 Acres
Price / SF$542.99
Days on Market124
Property Features for 351 E 16th St
General Information
- Standard status
- Active
- Size
- 3,315 SF
- Lot size
- 0.11 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1899
Listing Agency:
CENTURY 21 Homefront
(718) 252-6060
Listed By:
Delton Cheng · License #31CH0928260
Source:
Crexi
Added: Mar 23
Changed: Jul 6
Last Checked: Jul 23 at 1:13PM
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 CENTURY 21 Homefront
Investment Insights
Based on property information with market context.
Located in the desirable Ditmas Park neighborhood, just off Cortelyou Road, this detached, turn-of-the-century, three-story Victorian home is situated on a 50 x 100 lot. The residence features original parquet floors, intricate moldings, and classic pocket doors. An open front porch enhances the home’s Victorian appeal. Additional features include a full storage basement, a private driveway, and a spacious rear yard with a detached garage. The property is positioned near a mix of restaurants, cafes, and shops, with convenient access to the Q train and B103 along Cortelyou Road. With 3315 square feet, this property presents an investment opportunity for end-users or investors.
Key Highlights
- Desirable Ditmas Park location, steps from Cortelyou Road's restaurants, cafes, and shops.
- Generous 50 x 100 lot with a detached, three‑story Victorian home.
- Original architectural details: parquet floors, intricate moldings, and pocket doors.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.2k | $44.40 |
| − Vacancy | −$5.9k | −$1.78 |
| EGI | $141.3k | $42.62 |
| − OpEx | −$63.6k | −$19.18 |
| NOI | $77.7k | $23.44 |
3,315 SF · lease $44.40/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$971.4K – $1.30M
NOI $77,714 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,694 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Charming Victorian home with investment potential in prime location.
Where is this multifamily property located?
The property is located at 351 E 16th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Desirable Ditmas Park location, steps from Cortelyou Road's restaurants, cafes, and shops.; Generous 50 x 100 lot with a detached, three‑story Victorian home.; Original architectural details: parquet floors, intricate moldings, and pocket doors.
