Turn-Key Three-Unit Residential
For Sale
$1,675,000
657 East 94th Street, Brooklyn, NY 11236
Modernized semi-attached three-family property with separate unit entrances and a finished basement.
Property Size2,478 SF
Price / SF$675.95
Days on Market55
Property Features for 657 East 94th Street
General Information
Standard status
Active
Size
2,478 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,868
Building Details
Building Size
2,478 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
Kingsview Realty Corp.
(718) 692-2010
Listed By:
Anthony Garraud II
(718) 692-2010
Source:
Penrealty
Added: Jul 6
Changed: Aug 28
Last Checked: Aug 29 at 3:03PM
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 Kingsview Realty Corp.
Investment Insights
Based on property information with market context.
Introducing a turn-key three-unit, semi-attached residential property offering three separate apartments. The first floor features a three-bedroom layout with a modern kitchen and bathroom and brand-new appliances. The second floor includes two apartments, each with two bedrooms, a full bathroom, a modern kitchen, and a living/dining room combination. A fully finished basement is included with modern bathrooms and separate entrances at the front and rear.
The property is located near public transportation and local amenities, and offers walkable, bikeable, and excellent transit access based on available scores.
As presented, the building is fully renovated and modernized throughout, providing a clean, move-in-ready configuration for income-focused ownership.
The property is located near public transportation and local amenities, and offers walkable, bikeable, and excellent transit access based on available scores.
As presented, the building is fully renovated and modernized throughout, providing a clean, move-in-ready configuration for income-focused ownership.
Key Highlights
- Three‑family semi‑attached home built in 1930
- 3 separate units, including a 3‑bedroom unit on the first floor
- Second floor has two apartments, each with 2 bedrooms, full bathroom, and modern kitchen plus living/dining combo
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
$86,784
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
5.18%
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%
$1,735,680
$1.7M
Cap Rate 7%
$1,239,771
$1.2M
Cap Rate 9%
$964,267
$964.3K
Market Conditions
NOI Build-Up for 2,478 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
$126.4K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$124.0K $50.03/SF
− OpEx
−$37.2K −$15.01/SF
NOI
$86.8K $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 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%
$1,735,680
Cap Rate 7%
$1,239,771
Cap Rate 9%
$964,267
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.45M
NOI $86,784 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$1.08M
$945.6K – $1.26M
NOI $75,651 @ 7.0% cap · market cap 4.52%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.39M
NOI $143,625 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - Modernized semi-attached three-family property with separate unit entrances and a finished basement.
Where is this triplex located?
The property is located at 657 East 94th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Three‑family semi‑attached home built in 1930; 3 separate units, including a 3‑bedroom unit on the first floor; Second floor has two apartments, each with 2 bedrooms, full bathroom, and modern kitchen plus living/dining combo
