6-Unit Apartment
For Sale
$1,999,000
677 Glenmore Avenue, Brooklyn, NY 11207
Residents pay their own utility costs, including heat, and the property includes coin-operated laundry.
Property Size5,363 SF
Price / SF$372.74
Days on Market159
Property Features for 677 Glenmore Avenue
General Information
Standard status
Active
Size
5,363 SF
Property subtype
Commercial
Units
Unit Mix
5 x 3BR, 1 x 2BR
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$19,301
Amenities
coin-operated laundry
Building Details
Building Size
5,363 SF
Year Built
1935
Year Renovated
2007
Buildings
1
Stories
3
Units
6
Construction
stucco
Listing Agency:
Macaluso Realty
(718) 894-5000
Listed By:
Thomas J. Macaluso
Source:
Croninreale
Added: May 19
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
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 Macaluso Realty
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Investment Insights
Based on property information with market context.
This 5,363-square-foot apartment building contains six residences: five three-bedroom apartments and one two-bedroom apartment. The property underwent a gut renovation in 2007 and includes coin-operated laundry. Tenants pay their own utilities, including heat.
The apartments are described as exempt from DHCR regulations and not subject to rent stabilization. A playground is located across the street.
The apartments are described as exempt from DHCR regulations and not subject to rent stabilization. A playground is located across the street.
Key Highlights
- Six apartments: five 3‑bedroom units and one 2‑bedroom unit
- 5,363 square feet
- Gut renovation completed in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,727
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,274,540
$3.3M
Cap Rate 7%
$2,338,957
$2.3M
Cap Rate 9%
$1,819,189
$1.8M
Market Conditions
NOI Build-Up for 5,363 SF
Gross rent
$303.8K $56.64/SF
− Vacancy
−$6.1K −$1.13/SF
EGI
$297.7K $55.51/SF
− OpEx
−$134.0K −$24.98/SF
NOI
$163.7K $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%
$3,274,540
Cap Rate 7%
$2,338,957
Cap Rate 9%
$1,819,189
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.05M – $2.73M
NOI $163,727 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.44M
$3.89M – $5.18M
NOI $310,839 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,858
Businesses Nearby
Explore this area
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents pay their own utility costs, including heat, and the property includes coin-operated laundry.
Where is this apartment building located?
The property is located at 677 Glenmore Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Six apartments: five 3‑bedroom units and one 2‑bedroom unit; 5,363 square feet; Gut renovation completed in 2007
