Brick Triplex with Separate
For Sale
$1,950,000
538 51st St, Brooklyn, NY 11220
Three-family brick housing with individually metered electric and gas service and potential for vacant delivery.
Property Size2,892 SF
Lot Size0.05 Acres
Days on Market60
Property Features for 538 51st St
General Information
Standard status
Active
Size
2,892 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,768
Building Details
Building Size
2,892 SF
Year Built
1905
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Tiger Realty
Listed By:
Yi (Elaine) Lin
(917) 708-9966
Source:
Elliman
Added: Aug 21
Changed: Oct 18
Last Checked: Oct 16 at 11:12AM
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 Tiger Realty
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Investment Insights
Based on property information with market context.
This three-family brick residence offers 3.5 above-grade levels within a building measuring 20.5 by 47 feet on a 20.5-by-100-foot lot. Separate utility service includes 3 electric meters and 4 gas meters. The property was built in 1905 and can be delivered vacant.
Set in Sunset Park, the home is near neighborhood shopping, restaurants, schools, parks, and everyday services. Reported mobility scores include a 95 Walk Score, 89 Transit Score, and 58 Bike Score, reflecting access to local destinations and public transportation. Transit connections also support travel throughout Brooklyn and to Manhattan.
Set in Sunset Park, the home is near neighborhood shopping, restaurants, schools, parks, and everyday services. Reported mobility scores include a 95 Walk Score, 89 Transit Score, and 58 Bike Score, reflecting access to local destinations and public transportation. Transit connections also support travel throughout Brooklyn and to Manhattan.
Key Highlights
- Three‑family brick property with 3.5 above‑grade levels
- 20.5 by 47 feet building on a 20.5‑by‑100‑foot lot
- Separate utilities with 3 electric meters and 4 gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,108
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,722,160
$1.7M
Cap Rate 7%
$1,230,114
$1.2M
Cap Rate 9%
$956,756
$956.8K
Market Conditions
NOI Build-Up for 2,892 SF
Gross rent
$128.4K $44.40/SF
− Vacancy
−$5.4K −$1.86/SF
EGI
$123.0K $42.54/SF
− OpEx
−$36.9K −$12.76/SF
NOI
$86.1K $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%
$1,722,160
Cap Rate 7%
$1,230,114
Cap Rate 9%
$956,756
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,108 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$1.10M
$964.0K – $1.29M
NOI $77,120 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,237 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,884
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-family brick housing with individually metered electric and gas service and potential for vacant delivery.
Where is this triplex located?
The property is located at 538 51st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Three‑family brick property with 3.5 above‑grade levels; 20.5 by 47 feet building on a 20.5‑by‑100‑foot lot; Separate utilities with 3 electric meters and 4 gas meters
