Brick Triplex With Private
For Sale
$1,548,000
404 E 21st Street, Brooklyn, NY 11226
Residential, Brooklyn, NY
Property Size3,432 SF
Lot Size0.05 Acres
Price / SF$451.05
Days on Market50
Property Features for 404 E 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A/R7A
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 5, Bathroom 3, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 8
Parking features
Garage
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Flatbush
Standard status
Active
Size
3,432 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9712
Amenities
backyard
Building Details
Year built
1999
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Exit All Seasons Realty
(718) 345-4545
Listed By:
Adebanjo Anthony Olatunji
(718) 345-4545
Added: Jul 13
Changed: Aug 26
Last Checked: Aug 31 at 7:06AM
MLS# 503032
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 3,432-square-foot brick triplex was built in 1999 and contains three apartments with a 3-bedroom, 3-bedroom, and 2-bedroom configuration. Each residence has a tile-floored kitchen, an open living and dining area, a bathroom with a tub and shower combination, closet storage, and hardwood or tile flooring. Separate electric meters and individual boilers serve the apartments. The property also includes refrigerators and stoves, a flat roof, and abundant window light.
The 0.0517-acre property has a backyard, a built-in 1-car garage, and 2 additional parking spaces in front. It is located in Brooklyn, NY 11226, near Flatbush Avenue, with grocery stores, cafes, restaurants, retail, and public transportation nearby. King's Theatre is also described as being minutes away. Zoning is R6A/R7A.
The 0.0517-acre property has a backyard, a built-in 1-car garage, and 2 additional parking spaces in front. It is located in Brooklyn, NY 11226, near Flatbush Avenue, with grocery stores, cafes, restaurants, retail, and public transportation nearby. King's Theatre is also described as being minutes away. Zoning is R6A/R7A.
Key Highlights
- Three apartments configured as 3‑bedroom, 3‑bedroom, and 2‑bedroom units
- 3,432 square feet on a 0.0517‑acre lot
- Separate electric meters and individual boilers for each apartment
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
$86,997
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
5.62%
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%
$1,739,940
$1.7M
Cap Rate 7%
$1,242,814
$1.2M
Cap Rate 9%
$966,633
$966.6K
Market Conditions
NOI Build-Up for 3,432 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
$129.7K $37.80/SF
− Vacancy
−$5.4K −$1.59/SF
EGI
$124.3K $36.21/SF
− OpEx
−$37.3K −$10.86/SF
NOI
$87.0K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$1,739,940
Cap Rate 7%
$1,242,814
Cap Rate 9%
$966,633
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,997 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,457 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,742 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
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 - Three separately metered apartments with individual boilers, a backyard, and garage parking support flexible residential income use.
Where is this triplex located?
The property is located at 404 E 21st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,548,000.
What are key features of this property?
This property features: Three apartments configured as 3‑bedroom, 3‑bedroom, and 2‑bedroom units; 3,432 square feet on a 0.0517‑acre lot; Separate electric meters and individual boilers for each apartment
