Two-Family Townhouse with
For Sale
$1,800,000
587A Lexington Ave, Brooklyn, NY 11221
Residential Income, Brooklyn, NY
Property Size2,200 SF
Lot Size0.05 Acres
Price / SF$818.18
Days on Market218
Property Features for 587A Lexington Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 7, Bathroom 1, Bathroom 2, Bedroom 3
Subdivision
Bedford-Stuyvesant
Standard status
Active
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2031
Amenities
rear deck
private backyard
split AC system
solar panels
Building Details
Floors in Building
2
Buildings
1
Listing Agency:
CORCORAN GROUP
(917) 886-7006
Listed By:
Joe Lui
Added: Mar 24
Changed: Oct 26
Last Checked: Oct 27 at 11:06AM
MLS# 11679112
Copyright © 2026 My State MLS. 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 20'-wide townhouse occupies a 20' x 100' lot and contains a 20' x 55' building with approximately 2,200 square feet plus an unfinished basement. The current arrangement functions as a one-family home, with five bedrooms and a home office upstairs and additional living, dining, kitchen, and bedroom space on the first floor. The property can also accommodate a two-unit configuration with a 3-bedroom, 1-bath residence over a 2-bedroom, 1-bath residence. A rear deck overlooks the private backyard, while the basement has both front and rear access.
The property includes approximately 1,800 square feet of unused buildable area within a maximum buildable area of 4,000 square feet. A roof replacement was completed in 2022, and paid-off solar panels, split-system heating and cooling, and a tax abatement add to the existing improvements. The home is located near supermarkets, shopping, dining, and subway transportation in Brooklyn's Bedford-Stuyvesant neighborhood.
The property includes approximately 1,800 square feet of unused buildable area within a maximum buildable area of 4,000 square feet. A roof replacement was completed in 2022, and paid-off solar panels, split-system heating and cooling, and a tax abatement add to the existing improvements. The home is located near supermarkets, shopping, dining, and subway transportation in Brooklyn's Bedford-Stuyvesant neighborhood.
Key Highlights
- 20' x 100' lot with a 20' x 55' building
- Approximately 2,200 square feet plus an unfinished basement
- Approximately 1,800 square feet of unused buildable area; maximum buildable area of 4,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,048
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,936
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Flexible interior arrangement supports current single-household use or a return to separate residential units.
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 $1,800,000.
What are key features of this property?
This property features: 20' x 100' lot with a 20' x 55' building; Approximately 2,200 square feet plus an unfinished basement; Approximately 1,800 square feet of unused buildable area; maximum buildable area of 4,000 square feet
