Sunset Park Multifamily Investment
For Sale
$2,500,000
5622 4th Ave, Brooklyn, NY 11220
Well-maintained 8-family building near transportation, shopping, and NYU Langone.
Property Size8,492 SF
Lot Size0.08 Acres
Price / SF$294.12
Days on Market231
Property Features for 5622 4th Ave
General Information
Standard status
Active
Size
8,492 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$19,823
Building Details
Building Size
8,492 SF
Year Built
1904
Stories
4
Listing Agency:
Remax Real Estate Professionals
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Source:
Elliman
Added: Mar 10
Changed: Oct 11
Last Checked: Oct 24 at 4:45PM
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 Remax Real Estate Professionals
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an 8-family building located in Brooklyn's Sunset Park neighborhood. The solid brick building has a building size of 8500 square feet and features two- and three-bedroom apartments. The property is located close to the N and R trains, shopping, schools, and the NYU Langone hospital. Two ground floor owner’s apartments will be delivered vacant. The potential rent roll will be approximately $140,000, which includes the two owner’s apartments at $1,800 each.
Key Highlights
- Owner financing available.
- Two ground floor owner's apartments delivered vacant.
- Large building size: 8500 sqft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,666
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,533,320
$4.5M
Cap Rate 7%
$3,238,086
$3.2M
Cap Rate 9%
$2,518,511
$2.5M
Market Conditions
NOI Build-Up for 8,500 SF
Gross rent
$428.4K $50.40/SF
− Vacancy
−$16.3K −$1.92/SF
EGI
$412.1K $48.48/SF
− OpEx
−$185.5K −$21.82/SF
NOI
$226.7K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,533,320
Cap Rate 7%
$3,238,086
Cap Rate 9%
$2,518,511
Alternative Uses
Best Use
Apartment 5plus
$3.24M
$2.83M – $3.78M
NOI $226,666 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.51M
$4.82M – $6.43M
NOI $385,723 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
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Open Analytics
Location Intelligence
Trade Area within ½ mile
7,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-family building near transportation, shopping, and NYU Langone.
Where is this apartment building located?
The property is located at 5622 4th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Owner financing available.; Two ground floor owner's apartments delivered vacant.; Large building size: **8500 sqft**.
