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 Market108
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: Aug 23
Last Checked: Sep 11 at 5:18AM
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 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 = 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
$183,864
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
8.55%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,013
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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)
