Three-Unit Residential Income
For Sale
$1,775,000
554 Central Avenue, Brooklyn, NY 11207
Fully vacant three-family with spacious layouts and high ceilings across three full stories, offering flexible income or owner-occupant options.
Property Size3,600 SF
Price / SF$493.06
Days on Market95
Property Features for 554 Central Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family
Zoning
R6
Additional Details
Multifamily Units
3
Building Details
Building Size
3,600 SF
Stories
3
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
Listed By:
Celinda Iaboni
(718) 256-4000
Source:
Penrealty
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 25 at 12:49AM
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 Real Broker NY LLC
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Investment Insights
Based on property information with market context.
554 Central Ave presents a substantial three-family residential building delivered fully vacant, offering a straightforward starting point for an owner-occupant or investor. The property is laid out across three full stories with generous proportions, spacious layouts, and high ceilings throughout each residence, supporting a range of renovation and repositioning approaches.
The building sits in a vibrant, walkable stretch of Bushwick with convenient access to the J and L trains, and it is near neighborhood restaurants, cafés, shopping, and nightlife. With R6 zoning and three residential units under one roof, the offering combines usable scale with flexibility for establishing rental income across all units or occupying one residence while renting the others. Bike, walk, and transit scores are also strong, indicating convenient day-to-day access for tenants.
The building sits in a vibrant, walkable stretch of Bushwick with convenient access to the J and L trains, and it is near neighborhood restaurants, cafés, shopping, and nightlife. With R6 zoning and three residential units under one roof, the offering combines usable scale with flexibility for establishing rental income across all units or occupying one residence while renting the others. Bike, walk, and transit scores are also strong, indicating convenient day-to-day access for tenants.
Key Highlights
- Fully vacant 3‑family home with three full stories and approx. 3,600 sq ft total living space
- Built in 1910; each residence features spacious layouts and high ceilings
- R6 zoning; delivers flexibility for renovation, rental income, or multigenerational living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,078
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,521,560
$2.5M
Cap Rate 7%
$1,801,114
$1.8M
Cap Rate 9%
$1,400,867
$1.4M
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$183.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$180.1K $50.03/SF
− OpEx
−$54.0K −$15.01/SF
NOI
$126.1K $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%
$2,521,560
Cap Rate 7%
$1,801,114
Cap Rate 9%
$1,400,867
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully vacant three-family with spacious layouts and high ceilings across three full stories, offering flexible income or owner-occupant options.
Where is this triplex located?
The property is located at 554 Central Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Fully vacant 3‑family home with three full stories and approx. 3,600 sq ft total living space; Built in 1910; each residence features spacious layouts and high ceilings; R6 zoning; delivers flexibility for renovation, rental income, or multigenerational living
