Versatile Two-Family Townhouse in
587A LEXINGTON Ave Brooklyn, NY 11221
587A LEXINGTON Ave, Brooklyn, NY, 11221
$1,700,000
For Sale
$1,700,000
Charming two-family townhouse with expansion potential in Bedford-Stuyvesant.
Property Size2,200 SF
Lot Size0.05 Acres
Price / SF$772.73
Days on Market118
Property Features for 587A LEXINGTON Ave
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Lot size
- 0.05 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1899
Listing agency
(917) 242-7267
Listed by
Chi Y Lui
(917) 242-7267
Source
Elliman
Added: Mar 26 Updated: Jul 6 at 12:19PM Checked: Jul 21 at 6:03AM
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 Chi Y Lui
Investment Insights
Based on property information with market context.
Located in the heart of Bedford-Stuyvesant, Brooklyn, this 20-foot-wide two-family townhouse offers charm, character, and flexibility. The property is currently configured as a spacious one-family home but can be converted back to a two-family residence. Situated on a 20' x 100' lot, the building measures 20' x 55', providing approximately 2,200 square feet of living space plus an unfinished basement. There is also approximately 1,800 square feet of unused buildable area, with a maximum buildable area of 4,000 square feet, allowing for future expansion. In its current one-family layout, the second floor features 5 bedrooms, 1 home office, and 1 full bathroom. The first floor includes a living room, dining room, kitchen, 2 bedrooms, and 1 full bathroom. An alternative layout can accommodate a 3-bedroom, 1-bath unit over a 2-bedroom, 1-bath unit, each with its own living room, dining room, and kitchen. The home includes a large rear deck overlooking an expansive private backyard. The unfinished basement, with both front and rear access, offers additional possibilities for usable living space. The property has a new roof replaced in 2022, fully paid-off solar panels, and a tax abatement. A split AC system provides both heating and cooling. The property is conveniently located near supermarkets, shopping, dining, and subway transportation.
Key Highlights
- Excellent future expansion potential with approximately 1,800 square feet of unused buildable area.
- Easily convertible between a spacious one‑family home and a two‑family residence.
- Large rear deck and expansive private backyard provide excellent outdoor space.
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 | $112.2k | $51.00 |
| − Vacancy | −$2.1k | −$0.97 |
| EGI | $110.1k | $50.03 |
| − OpEx | −$33.0k | −$15.01 |
| NOI | $77.0k | $35.02 |
2,200 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 7.50%
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 - Charming two-family townhouse with expansion potential in Bedford-Stuyvesant.
Where is this duplex located?
The property is located at 587A LEXINGTON Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Excellent future expansion potential with approximately 1,800 square feet of unused buildable area.; Easily convertible between a spacious one‑family home and a two‑family residence.; **Large rear deck and expansive private backyard provide excellent outdoor space.**
