Four-Unit Apartment
408 E 29TH Street, Brooklyn, NY 11226
For Sale
$1,499,000
A vacant three-bedroom owner’s duplex includes a finished basement and private backyard.
Property Size3,998 SF
Price / SF$374.94
Days on Market305
Property Features for 408 E 29TH Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Serhant
Listed By:
Oleg Gandelman
(718) 637-3191
Source:
Poljanproperties
Added: Jan 9
Changed: Nov 8
Last Checked: Nov 8 at 4:52PM
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 Serhant
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Investment Insights
Based on property information with market context.
Built in 1910, this four-story apartment property contains four residences and totals 3,998 square feet. The owner’s duplex will be delivered vacant and offers three bedrooms, a finished 1,000-square-foot basement with washer and dryer hookups, and a private backyard. The other apartments provide one, two, and four bedrooms, respectively.
The Newkirk 2/5 train stop is at the end of the block. The property is near the Kings Theater and Shirley Chisholm Recreation Center, with Ditmas Park to the west and Prospect Lefferts Gardens to the north.
The Newkirk 2/5 train stop is at the end of the block. The property is near the Kings Theater and Shirley Chisholm Recreation Center, with Ditmas Park to the west and Prospect Lefferts Gardens to the north.
Key Highlights
- Four‑story, four‑family property built in 1910
- 3,998 square feet of building area
- Vacant three‑bedroom owner’s duplex with a finished 1,000‑square‑foot basement and private backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,344
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,026,880
$2.0M
Cap Rate 7%
$1,447,771
$1.4M
Cap Rate 9%
$1,126,044
$1.1M
Market Conditions
NOI Build-Up for 3,998 SF
Gross rent
$151.1K $37.80/SF
− Vacancy
−$6.3K −$1.59/SF
EGI
$144.8K $36.21/SF
− OpEx
−$43.4K −$10.86/SF
NOI
$101.3K $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 Rate 5%
$2,026,880
Cap Rate 7%
$1,447,771
Cap Rate 9%
$1,126,044
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,344 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,726 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,324 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,010
Businesses Nearby
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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
$866,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Brooklyn, NY
Properties on Market for Quadplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - A vacant three-bedroom owner’s duplex includes a finished basement and private backyard.
Where is this quadplex located?
The property is located at 408 E 29TH Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four‑story, four‑family property built in 1910; 3,998 square feet of building area; Vacant three‑bedroom owner’s duplex with a finished 1,000‑square‑foot basement and private backyard
