Attached Two-Family
For Sale
$1,999,000
4807 Fort Hamilton Parkway, Brooklyn, NY 11219
Vacant two-family attached townhouse with walkout basement and zoning potential to add living space.
Property Size3,300 SF
Price / SF$605.76
Days on Market57
Property Features for 4807 Fort Hamilton Parkway
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Residential Income
Zoning
R6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$23,546
Building Details
Building Size
3,300 SF
Year Built
1899
Stories
3
Units
2
Listing Agency:
Keller Williams Landmark II
(718) 968-5538
Listed By:
George Herrera · License #10401224259
(718) 968-5538
Source:
Cohenandcohenrealty
Added: Jul 1
Changed: Aug 24
Last Checked: Aug 25 at 9:21AM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This attached two-family stone townhouse offers three levels plus a walkout basement, totaling about 3,300 interior square feet. Both units are currently vacant and appear to be in need of TLC, making this a hands-on opportunity for an owner-operator or investor. The building sits on a 20' x 55' footprint and includes a layout that can support continued residential use while you bring the property back to value.
The property is located in Borough Park with convenient access to transportation and shopping. The D train to Manhattan and downtown Brooklyn is described as two blocks away, and there are restaurants, markets, and other amenities within a few blocks. Schools are also noted as being only a few blocks away, and Prospect Park is about one mile.
With R6 zoning, the property is described as allowing an additional 1,750 interior square feet and a fourth level, which may be attractive to buyers looking to expand the building beyond its current configuration. Overall, the combination of a multi-level two-family structure, vacant delivery, and stated zoning capacity makes this best suited for a buyer who can capitalize on residential renovation and potential vertical expansion.
The property is located in Borough Park with convenient access to transportation and shopping. The D train to Manhattan and downtown Brooklyn is described as two blocks away, and there are restaurants, markets, and other amenities within a few blocks. Schools are also noted as being only a few blocks away, and Prospect Park is about one mile.
With R6 zoning, the property is described as allowing an additional 1,750 interior square feet and a fourth level, which may be attractive to buyers looking to expand the building beyond its current configuration. Overall, the combination of a multi-level two-family structure, vacant delivery, and stated zoning capacity makes this best suited for a buyer who can capitalize on residential renovation and potential vertical expansion.
Key Highlights
- 1899‑built attached stone 2‑family townhouse with 3 levels plus a walkout basement totaling 3,300 interior SF
- Both units are vacant and in need of TLC, offering renovation potential
- R6 zoning allows for an additional 1,750 interior SF and a fourth level
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
$95,301
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
4.77%
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%
$1,906,020
$1.9M
Cap Rate 7%
$1,361,443
$1.4M
Cap Rate 9%
$1,058,900
$1.1M
Market Conditions
NOI Build-Up for 3,300 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
$142.6K $43.20/SF
− Vacancy
−$6.4K −$1.94/SF
EGI
$136.1K $41.26/SF
− OpEx
−$40.8K −$12.38/SF
NOI
$95.3K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$1,906,020
Cap Rate 7%
$1,361,443
Cap Rate 9%
$1,058,900
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,301 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,547 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,751 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,708
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family attached townhouse with walkout basement and zoning potential to add living space.
Where is this duplex located?
The property is located at 4807 Fort Hamilton Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 1899‑built attached stone 2‑family townhouse with 3 levels plus a walkout basement totaling 3,300 interior SF; Both units are vacant and in need of TLC, offering renovation potential; R6 zoning allows for an additional 1,750 interior SF and a fourth level
