Well-Maintained Four-Family
For Sale
$2,150,000
550 Hart Street, Brooklyn, NY 11221
For sale four-unit residential income property with convenient transit access near the M train.
Property Size5,250 SF
Days on Market155
Property Features for 550 Hart Street
General Information
Standard status
Active
Size
5,250 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,630
Amenities
Central Air
Natural Gas
Finished
Eat-in Kitchen
Off Street
Other
Building Details
Building Size
5,250 SF
Year Built
1931
Listing Agency:
Keller Williams Landmark II
Listed By:
Lotfi Chortani · License #10301220255
(718) 730-5870
Source:
Evrealestate
Added: May 27
Changed: Oct 25
Last Checked: Oct 26 at 4:00PM
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
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Investment Insights
Based on property information with market context.
This well-maintained four-family building offers a straightforward residential income setup with multiple units under one roof. The property is described as having spacious building character and is presented for investors or end-users looking for a multi-unit asset in Brooklyn.
Located in Bushwick, the building is listed as conveniently near the Central Ave M train, with easy access to local amenities including restaurants, shopping, parks, and nightlife. The provided accessibility metrics include a Very Walkable walkScore of 82, a Very Bikeable bikeScore of 70, and an Excellent Transit transitScore of 84.
As a for-sale four-unit residential income property, it may be well suited for buyers seeking to add to a portfolio or for individuals looking to own a multi-family building in a transit-accessible area of Brooklyn. With four residential units, the asset can support a range of ownership strategies while remaining focused on day-to-day residential operations.
Located in Bushwick, the building is listed as conveniently near the Central Ave M train, with easy access to local amenities including restaurants, shopping, parks, and nightlife. The provided accessibility metrics include a Very Walkable walkScore of 82, a Very Bikeable bikeScore of 70, and an Excellent Transit transitScore of 84.
As a for-sale four-unit residential income property, it may be well suited for buyers seeking to add to a portfolio or for individuals looking to own a multi-family building in a transit-accessible area of Brooklyn. With four residential units, the asset can support a range of ownership strategies while remaining focused on day-to-day residential operations.
Key Highlights
- Four‑family residential income property built in 1931
- Conveniently located near the Central Ave M train for easy commuting
- Scores: Walk 82 (very walkable), Bike 70 (very bikeable), Transit 84 (excellent transit)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,864
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,677,280
$3.7M
Cap Rate 7%
$2,626,629
$2.6M
Cap Rate 9%
$2,042,933
$2.0M
Market Conditions
NOI Build-Up for 5,250 SF
Gross rent
$267.8K $51.00/SF
− Vacancy
−$5.1K −$0.97/SF
EGI
$262.7K $50.03/SF
− OpEx
−$78.8K −$15.01/SF
NOI
$183.9K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,677,280
Cap Rate 7%
$2,626,629
Cap Rate 9%
$2,042,933
Alternative Uses
Best Use
Multifamily LT 5
$2.63M
$2.30M – $3.06M
NOI $183,864 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$2.29M
$2.00M – $2.67M
NOI $160,277 @ 7.0% cap · market cap 7.45%
Theoretical Best
Specialty Retail
$4.35M
$3.80M – $5.07M
NOI $304,290 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,013
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - For sale four-unit residential income property with convenient transit access near the M train.
Where is this quadplex located?
The property is located at 550 Hart Street 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: Four‑family residential income property built in 1931; Conveniently located near the Central Ave M train for easy commuting; Scores: Walk 82 (very walkable), Bike 70 (very bikeable), Transit 84 (excellent transit)
