Residential Income Property with
For Sale
$490,000
Pending
618 Louisiana Avenue 2, Brooklyn, NY 11239
Central climate control and deeded parking complement this three-bedroom residence.
Property Size1,344 SF
Days on Market21
Property Features for 618 Louisiana Avenue 2
General Information
Standard status
Pending
Size
1,344 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,996
Amenities
hardwood floors
recessed lighting
breakfast bar
gas stove
dishwasher
walk-in closet
primary ensuite bathroom
central heating
central AC
washer/dryer in unit
gas dryer hookup
pets allowed
private balcony
common garden
common storage
Building Details
Building Size
1,344 SF
Year Built
1989
Listing Agency:
Compass
Listed By:
Nathalie Gaspard
(917) 932-7617
Source:
Miradorrealestate
Added: Oct 9
Changed: Oct 27
Last Checked: Oct 28 at 3:31PM
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 Compass
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Investment Insights
Based on property information with market context.
This residential income property is a condominium residence with 1,344 square feet across five rooms, including three bedrooms and two full bathrooms. Hardwood flooring and recessed lighting run throughout. The kitchen has a breakfast bar, gas stove, and dishwasher; the primary bedroom includes a walk-in closet and ensuite bath. Central heating and air conditioning, an in-unit washer and dryer, and a gas dryer hookup are also provided.
Outdoor and storage features include a private balcony, shared garden access, and common building storage. A deeded parking space is included. The property was built in 1989, and pets are permitted.
Outdoor and storage features include a private balcony, shared garden access, and common building storage. A deeded parking space is included. The property was built in 1989, and pets are permitted.
Key Highlights
- 1,344 square feet arranged across five rooms
- Three bedrooms and two full bathrooms
- Deeded parking space included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,031
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,620
$820.6K
Cap Rate 7%
$586,157
$586.2K
Cap Rate 9%
$455,900
$455.9K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$76.1K $56.64/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$74.6K $55.51/SF
− OpEx
−$33.6K −$24.98/SF
NOI
$41.0K $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%
$820,620
Cap Rate 7%
$586,157
Cap Rate 9%
$455,900
Alternative Uses
Best Use
Apartment 5plus
$586.2K
$512.9K – $683.9K
NOI $41,031 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.11M
$973.7K – $1.30M
NOI $77,898 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
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Business Placement
Demographics for 11239, NY
17,038
Population
8,883
Households
1.9
Avg Household Size
45
Median Age
22%
College-Educated
87%
High-School Grad
1.7 sq mi
ZIP Area
10,022
Density / Sq Mi
$35,675
Median Household Income
$46,596
Median Earnings
$1,016
Median Rent
$580,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Central climate control and deeded parking complement this three-bedroom residence.
Where is this residential income property located?
The property is located at 618 Louisiana Avenue 2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1,344 square feet arranged across five rooms; Three bedrooms and two full bathrooms; Deeded parking space included
