Brooklyn Three-Family Brick
For Sale
$2,150,000
Pending
515 57th St, Brooklyn, NY 11220
Well-maintained 3-story brick property with income potential in Brooklyn.
Property Size3,072 SF
Days on Market148
Property Features for 515 57th St
General Information
Standard status
Pending
Size
3,072 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,079
Building Details
Building Size
3,072 SF
Year Built
1910
Stories
3
Listed By:
Amy Xiao Tong Zhang
(917) 708-9966
Source:
Elliman
Added: May 18
Changed: Sep 29
Last Checked: Oct 11 at 6:37AM
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 Amy Xiao Tong Zhang
Investment Insights
Based on property information with market context.
This is a three-story, three-family brick property that offers income potential. The well-maintained home includes a finished basement and three separate boiler and heating systems, providing independent utilities for each unit. The property features a spacious layout with generous living areas. It is located near shopping, transportation, schools, and local amenities. The property has a bike score of 76, a walk score of 95, and a transit score of 95.
Key Highlights
- Strong income potential from a 3‑family property.
- Separate boiler and heating systems for each unit (independent utilities).
- Finished basement.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,468
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,360
$1.8M
Cap Rate 7%
$1,306,686
$1.3M
Cap Rate 9%
$1,016,311
$1.0M
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$136.4K $44.40/SF
− Vacancy
−$5.7K −$1.86/SF
EGI
$130.7K $42.54/SF
− OpEx
−$39.2K −$12.76/SF
NOI
$91.5K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,360
Cap Rate 7%
$1,306,686
Cap Rate 9%
$1,016,311
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.14M – $1.52M
NOI $91,468 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,920 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,405 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained 3-story brick property with income potential in Brooklyn.
Where is this triplex located?
The property is located at 515 57th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Strong income potential from a 3‑family property.; Separate boiler and heating systems for each unit (independent utilities).; Finished basement.
