Two-Family Residential Income
438 73rd Street, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property size:
2,200 SFLot size:
0.04 AcresPrice / SF:
$590/SF- Added:
- Apr 22, 2026
- Days on Market:
- 68
- Last Refresh:
- Jun 28 at 5:06 am
Property Features for 438 73rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5B
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
- Patio and Porch features
- Deck, Porch
- Interior features
- A/C Unit - Window, Deck, Dishwasher, Dryer, Porch, Refrigerator, Stove, Terrace, Washer
- Basement
- Finished
- Standard status
- Active
- Size
- 2,200 SF
- Lot size
- 0.04 Acres
Building Details
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile, Hardwood, Carpet
- Building materials
- Brick
- Roof type
- Asphalt, Flat
Listing agent Louis M. Guida (917) 836-1050
Listing office Keller Williams Realty Empire 8508 3rd Avenue, Brooklyn, NY (718) 954-8400
Listing date Apr 22, 2026
MLS# 500771
Listing URL
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.
HighLights
- Two‑family home with two rental units on the first and second floors, both delivered vacant
- First‑floor unit has five rooms plus a full bathroom, including a living room, dining room, two bedrooms in a railroad‑style layout, and a kitchen
- Second‑floor unit has six rooms plus a full bathroom, including three bedrooms, a living room, dining room, and a kitchen
- Oil‑fueled heating system was recently updated and currently works without any issues; semi‑finished basement includes space for a laundry area
- Backyard access through a door from the first‑floor kitchen, plus deck and porch for outdoor space
- Brick construction with asphalt and flat roof; roof repaired recently
Overview
This two-family home is arranged with one rental unit on the first floor and one on the second floor, and both will be delivered vacant. The first-floor apartment includes five rooms plus a full bathroom, with a living room, dining room, two bedrooms in a railroad-style layout, and a kitchen. There is direct access to the backyard through a door from the kitchen. A semi-finished basement is accessible from both the outside front yard and from inside the first-floor unit, and the space includes room for a laundry area.
The second-floor unit offers six rooms plus a full bathroom, including three bedrooms, a living room, dining room, and kitchen. The heating system is oil-fueled and was recently updated and is reported to be working properly. The roof was repaired recently. Zoned R5B, the property is located on 73rd Street between 4th and 5th Avenues, and the R train is about a minute away.
With two self-contained units and flexible basement space, the property can fit buyers seeking a straightforward two-family residential rental setup. The updated heating system and recently repaired roof provide immediate, practical improvements for an operator looking to stabilize and run the property.
The second-floor unit offers six rooms plus a full bathroom, including three bedrooms, a living room, dining room, and kitchen. The heating system is oil-fueled and was recently updated and is reported to be working properly. The roof was repaired recently. Zoned R5B, the property is located on 73rd Street between 4th and 5th Avenues, and the R train is about a minute away.
With two self-contained units and flexible basement space, the property can fit buyers seeking a straightforward two-family residential rental setup. The updated heating system and recently repaired roof provide immediate, practical improvements for an operator looking to stabilize and run the property.
Local Financial Insights For Multifamily LT 5
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 | $112.2k | $51.00 |
| − Vacancy | −$2.1k | −$0.97 |
| EGI | $110.1k | $50.03 |
| − OpEx | −$33.0k | −$15.01 |
| NOI | $77.0k | $35.02 |
2,200 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.023441
- Latitude
- 40.631396
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two vacant rental units with updated oil heating, a semi-finished basement, and recent roof repairs.
Where is this duplex located?
The property is located at 438 73rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two‑family home with two rental units on the first and second floors, both delivered vacant; First‑floor unit has five rooms plus a full bathroom, including a living room, dining room, two bedrooms in a railroad‑style layout, and a kitchen; Second‑floor unit has six rooms plus a full bathroom, including three bedrooms, a living room, dining room, and a kitchen
