Renovated 4-Unit
New
For Sale
$2,550,000
390 17th Street, Brooklyn, NY 11215
Four two-bedroom apartments include a duplex and access to outdoor spaces.
Property Size2,900 SF
Lot Size0.06 Acres
Price / SF$879.31
Days on Market7
Property Features for 390 17th Street
General Information
Standard status
Active
Size
2,900 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Financials
Cap Rate
6.2%
Gross Income
$13,500
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$30,600,000
Building Details
Building Size
2,900 SF
Year Built
1931
Buildings
1
Tenancy
Multi
Listing Agency:
Corcoran Group
Listed By:
Wassim F Fakhereddine · License #10301214095 (NY)
(718) 832-4155
Source:
Carlinwright
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 7 at 3:08PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Built in 1931, this renovated quadplex contains four two-bedroom apartments, including a first-floor duplex. The building measures 25 feet by 55.5 feet, and the lot measures 25 feet by 100.17 feet. Renovations included the basement. Heat is electric, and each apartment has a separate meter.
Two first-floor apartments have direct backyard access, while the top-floor units each have a private deck. The property is partially occupied and can be delivered vacant at closing. Prospect Park is described as a short distance away. The stated cap rate is 6.2%.
Two first-floor apartments have direct backyard access, while the top-floor units each have a private deck. The property is partially occupied and can be delivered vacant at closing. Prospect Park is described as a short distance away. The stated cap rate is 6.2%.
Key Highlights
- Four renovated two‑bedroom apartments, including a first‑floor duplex
- Building dimensions: 25 ft x 55.5 ft; lot dimensions: 25 ft x 100.17 ft
- Two first‑floor apartments have direct backyard access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,563
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,031,260
$2.0M
Cap Rate 7%
$1,450,900
$1.5M
Cap Rate 9%
$1,128,478
$1.1M
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$147.9K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$145.1K $50.03/SF
− OpEx
−$43.5K −$15.01/SF
NOI
$101.6K $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%
$2,031,260
Cap Rate 7%
$1,450,900
Cap Rate 9%
$1,128,478
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,563 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$1.26M
$1.11M – $1.48M
NOI $88,534 @ 7.0% cap · market cap 3.47%
Theoretical Best
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,084 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,653
Businesses Nearby
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Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four two-bedroom apartments include a duplex and access to outdoor spaces.
Where is this quadplex located?
The property is located at 390 17th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Four renovated two‑bedroom apartments, including a first‑floor duplex; Building dimensions: 25 ft x 55.5 ft; lot dimensions: 25 ft x 100.17 ft; Two first‑floor apartments have direct backyard access
