Brick Two-Unit
New
For Sale
$980,000
659 Georgia Avenue, Brooklyn, NY 11207
Recent apartment updates, separate utility meters, and a finished basement add practical flexibility to this Brooklyn property.
Property Size2,296 SF
Lot Size0.05 Acres
Price / SF$426.83
Days on Market4
Property Features for 659 Georgia Avenue
General Information
Standard status
Active
Size
2,296 SF
Lot size
0.05 Acres
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1899
Buildings
1
Stories
2
Construction
brick
Tenancy
Single
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Jaleel Mussington · License #JM5148
(516) 575-7500
Source:
Movetonewjersey
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 6:19AM
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 Charles Rutenberg Realty Inc
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Investment Insights
Based on property information with market context.
This two-story brick duplex contains 2,296 square feet on a 20-by-100-foot lot. The layout includes a four-bedroom, two-bathroom apartment and a separate two-bedroom apartment. Both residences were renovated within the last five years. A finished basement with its own entrance adds usable interior space. The building dates to 1899.
Separate boilers and gas and electric meters serve the apartments. The four-bedroom unit is to be delivered vacant, while the first-floor tenant is on a month-to-month lease. The property is in East Brooklyn, with access to the J and L trains and nearby restaurants, shopping, and other neighborhood amenities.
Separate boilers and gas and electric meters serve the apartments. The four-bedroom unit is to be delivered vacant, while the first-floor tenant is on a month-to-month lease. The property is in East Brooklyn, with access to the J and L trains and nearby restaurants, shopping, and other neighborhood amenities.
Key Highlights
- Two‑story brick duplex with 2,296 SF on a 20‑by‑100‑foot lot
- Unit mix includes one 4‑bedroom, 2‑bathroom apartment and one 2‑bedroom apartment
- Both apartments renovated within the last 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,410
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,608,200
$1.6M
Cap Rate 7%
$1,148,714
$1.1M
Cap Rate 9%
$893,444
$893.4K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$117.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$114.9K $50.03/SF
− OpEx
−$34.5K −$15.01/SF
NOI
$80.4K $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%
$1,608,200
Cap Rate 7%
$1,148,714
Cap Rate 9%
$893,444
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,410 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$1.00M
$876.2K – $1.17M
NOI $70,094 @ 7.0% cap · market cap 7.15%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $133,076 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,336
Businesses Nearby
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Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Recent apartment updates, separate utility meters, and a finished basement add practical flexibility to this Brooklyn property.
Where is this duplex located?
The property is located at 659 Georgia Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Two‑story brick duplex with 2,296 SF on a 20‑by‑100‑foot lot; Unit mix includes one 4‑bedroom, 2‑bathroom apartment and one 2‑bedroom apartment; Both apartments renovated within the last 5 years
