Brick Triplex with Two-Car
For Sale
$1,000,000
Pending
607 E 53rd St, Brooklyn, NY 11203
Triplex offering two one-bedroom units and a two-bedroom top-floor unit, plus a two-car garage.
Property Size2,836 SF
Days on Market52
Property Features for 607 E 53rd St
General Information
Standard status
Pending
Size
2,836 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,557
Building Details
Building Size
2,836 SF
Year Built
1945
Stories
2
Listing Agency:
Exit All Seasons Realty
Listed By:
Ricardo Cox
(718) 345-4545
Source:
Elliman
Added: Jul 16
Changed: Aug 14
Last Checked: Sep 5 at 11:44AM
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 Exit All Seasons Realty
Investment Insights
Based on property information with market context.
Brick triplex configured with three residential units. The top floor features a two-bedroom apartment, while the first floor and the lower level each offer a one-bedroom apartment. The property also includes a two-car garage and is described as structurally sound and ready for renovation.
Located in East Flatbush, the building sits between Kings Hwy and Utica Avenue. The area is reported as very walkable, with excellent transit and a bike score of 64.
This is a for-sale opportunity presented for investors or owner-occupants, with the existing layout supporting straightforward multi-unit occupancy following renovation.
Located in East Flatbush, the building sits between Kings Hwy and Utica Avenue. The area is reported as very walkable, with excellent transit and a bike score of 64.
This is a for-sale opportunity presented for investors or owner-occupants, with the existing layout supporting straightforward multi-unit occupancy following renovation.
Key Highlights
- 3‑unit brick triplex in East Flatbush with two 1‑bedroom units plus a 2‑bedroom top‑floor unit
- Two‑car garage included
- Year built: 1945
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$86,580
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,731,600
$1.7M
Cap Rate 7%
$1,236,857
$1.2M
Cap Rate 9%
$962,000
$962.0K
Market Conditions
NOI Build-Up for 2,836 SF
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.
Gross rent
$160.6K $56.64/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$157.4K $55.51/SF
− OpEx
−$70.8K −$24.98/SF
NOI
$86.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,731,600
Cap Rate 7%
$1,236,857
Cap Rate 9%
$962,000
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,322 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,580 @ 7.0% cap · market cap 8.66%
Theoretical Best
Specialty Retail
$2.35M
$2.05M – $2.74M
NOI $164,375 @ 7.0% cap · market cap 16.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offering two one-bedroom units and a two-bedroom top-floor unit, plus a two-car garage.
Where is this triplex located?
The property is located at 607 E 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3‑unit brick triplex in East Flatbush with two 1‑bedroom units plus a 2‑bedroom top‑floor unit; Two‑car garage included; Year built: 1945
