Renovated Multi-Family Home in
561 83rd Street Brooklyn, NY 11209
561 83rd Street, Brooklyn, NY, 11209
$1,880,000
For Sale
$1,880,000
MULTI_FAMILY - Brooklyn, NY
Property Size2,440 SF
Lot Size0.06 Acres
Price / SF$770.49
Days on Market82
Property Features for 561 83rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 9
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 7, Bathroom 1, Bedroom 4, Bathroom 9, Bedroom 1, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 4, Bathroom 8, Bedroom 2, Bathroom 2, Bedroom 6
- Parking features
- Garage - Detached
- Interior features
- Refrigerator, Stove
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 2,440 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11989
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile, Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing Agency
RE/MAX Edge
(718) 612-3088
1812 Bath Ave, Brooklyn, NY
Listed by
Rong Feng Li · License #10401316932
(718) 612-3088
Added: Apr 28 Checked: Jul 18 at 11:06 am
MLS# 500931
Listing URL
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.
Investment Insights
Based on property information with market context.
Located in Bay Ridge, Brooklyn, this two-family home has been gut-renovated with quality materials and modern systems. The first floor features four bedrooms and four bathrooms, including three en-suite bedrooms. The second floor offers three bedrooms and three bathrooms, with two en-suite bedrooms. The basement provides a finished space suitable for recreation, an extra room, or a home office. Each unit operates independently with separate boilers and furnaces. The home features hardwood floors, premium tile finishes, and open layouts. A private driveway is included. The property is located on a residential block near transportation, shops, restaurants, parks, and schools. It is suitable for owner occupancy, extended family living, or rental income.
Key Highlights
- 2‑family home at 561 83rd Street in Bay Ridge, Brooklyn (built 1920) with 7 bedrooms and 9 bathrooms
- 1st floor layout: 4 bedrooms and 4 bathrooms, including 3 en‑suite bedrooms
- 2nd floor layout: 3 bedrooms and 3 bathrooms, including 2 en‑suite bedrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.4k | $51.00 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $122.1k | $50.03 |
| − OpEx | −$36.6k | −$15.01 |
| NOI | $85.5k | $35.02 |
2,440 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,453 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$1.06M
$931.1K – $1.24M
NOI $74,491 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.36M
NOI $141,422 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Gut-renovated two-family home in Bay Ridge, move-in ready.
Where is this duplex located?
The property is located at 561 83rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: 2‑family home at 561 83rd Street in Bay Ridge, Brooklyn (built 1920) with 7 bedrooms and 9 bathrooms; 1st floor layout: 4 bedrooms and 4 bathrooms, including 3 en‑suite bedrooms; 2nd floor layout: 3 bedrooms and 3 bathrooms, including 2 en‑suite bedrooms
