Three-Unit Brick
554 Central Avenue, Brooklyn, NY 11207
For Sale
$1,775,000
Residential, Brooklyn, NY
Property Size3,600 SF
Lot Size0.04 Acres
Price / SF$493.06
Days on Market107
Property Features for 554 Central Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Interior features
Basement
Subdivision
Standard status
Size
Lot size
Building Details
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Real Broker NY LLC
Listed By:
Celinda Iaboni
(718) 256-4000
Added: Aug 1
Changed: Nov 12
Last Checked: Nov 15 at 5:06PM
MLS# 503451
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-unit residential property at 554 Central Avenue contains approximately 3,600 square feet across three full stories on a 0.0367-acre lot. The building is constructed with brick and wood framing and features hardwood flooring, window A/C units, refrigerators, stoves, and a washer. The property is delivered fully vacant, with each residence offering spacious layouts and high ceilings. There are four bathrooms and nine bedrooms across the building, along with a flat roof.
The property is located in Bushwick near restaurants, nightlife, shopping, and neighborhood businesses. Access to the J and L train lines is noted in the property information. R6 zoning and the three-unit configuration support residential use, while the existing vacancy provides flexibility for an owner occupant, rental placement, or renovation plans.
The property is located in Bushwick near restaurants, nightlife, shopping, and neighborhood businesses. Access to the J and L train lines is noted in the property information. R6 zoning and the three-unit configuration support residential use, while the existing vacancy provides flexibility for an owner occupant, rental placement, or renovation plans.
Key Highlights
- Three residential units across three full stories
- Approximately 3,600 square feet on a 0.0367‑acre lot
- Fully vacant at delivery
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
Location Intelligence
Trade Area within ½ mile
3,398
Businesses Nearby
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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
$657,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Brooklyn, NY
Properties on Market for Triplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-unit property with three full stories, R6 zoning, and flexible residential layouts in Bushwick.
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: Three residential units across three full stories; Approximately 3,600 square feet on a 0.0367‑acre lot; Fully vacant at delivery
