Six-Family Brick Apartment
New
For Sale
$1,599,000
568 39th St, Brooklyn, NY 11232
A finished lower level with its own entrance and a backyard complement the six-apartment layout.
Property Size4,500 SF
Days on Market4
Property Features for 568 39th St
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,611
Building Details
Building Size
4,500 SF
Year Built
1935
Buildings
1
Stories
3
Construction
solid brick
Listing Agency:
Remax Real Estate Professionals
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Oct 7
Last Checked: Oct 9 at 10:41PM
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
Investment Insights
Based on property information with market context.
Built in 1935, this semi-detached brick apartment property contains six apartments, a finished basement with a separate entrance, and a backyard. Three apartments are scheduled to be vacant at closing. The building has also received upgrades.
The property is in Brooklyn’s Sunset Park neighborhood, near transportation and shopping. Its reported scores are 91 for walking, 89 for transit, and 74 for biking.
The property is in Brooklyn’s Sunset Park neighborhood, near transportation and shopping. Its reported scores are 91 for walking, 89 for transit, and 74 for biking.
Key Highlights
- Six apartments in a semi‑detached brick building
- Three apartments to be vacant at closing
- Finished basement with a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,380
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,747,600
$2.7M
Cap Rate 7%
$1,962,571
$2.0M
Cap Rate 9%
$1,526,444
$1.5M
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$254.9K $56.64/SF
− Vacancy
−$5.1K −$1.13/SF
EGI
$249.8K $55.51/SF
− OpEx
−$112.4K −$24.98/SF
NOI
$137.4K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,747,600
Cap Rate 7%
$1,962,571
Cap Rate 9%
$1,526,444
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,380 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.73M
$3.26M – $4.35M
NOI $260,820 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,611
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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
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Frequently Asked Questions
What type of property is this?
Apartment building - A finished lower level with its own entrance and a backyard complement the six-apartment layout.
Where is this apartment building located?
The property is located at 568 39th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Six apartments in a semi‑detached brick building; Three apartments to be vacant at closing; Finished basement with a separate entrance
