Spacious Brooklyn Multi-Family
685 Rockaway Parkway Brooklyn, NY 11236
685 Rockaway Parkway, Brooklyn, NY, 11236
$999,000
For Sale
$999,000
MULTI_FAMILY - Brooklyn, NY
Property Size2,508 SF
Lot Size0.07 Acres
Price / SF$398.33
Days on Market235
Property Features for 685 Rockaway Parkway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bedroom 3, Bedroom 6, Bathroom 5, Bathroom 4, Bedroom 2, Bedroom 9, Bedroom 8, Bedroom 7, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 5
- Parking features
- Garage
- Basement
- Finished
- Standard status
- Active
- Size
- 2,508 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7468
Building Details
- Year built
- 1963
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Tile, Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing Agency
Tiger Realty
(917) 708-9966
1484 86th Street, Brooklyn, NY
Listed by
Peter Pan · License #10401215383
(917) 708-9966
Added: Nov 24, 2025 Checked: Jul 17 at 10:06 am
MLS# 497526
Listing URL
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Investment Insights
Based on property information with market context.
Located in the heart of Canarsie, Brooklyn, 685 Rockaway Parkway is a semi-detached two-family home offering approximately 2,508 square feet of interior space. The property includes three 3-bedroom units and a finished basement across three stories, along with front and back yard areas. A built-in garage and additional parking provide convenience. The property generates rental income, including a top-floor unit producing $3,427 per month. The middle unit is currently month-to-month at $2,400 per month, offering flexibility. The lower level is currently rented at $1,800 per month. The property is located near the Canarsie-Rockaway Parkway L train terminal, multiple bus lines, neighborhood shopping, restaurants, and services. The lot size is 0.0746 acres. The zoning is R5. This property presents an opportunity for end-users looking to offset mortgage costs with rental income, multi-generational living, or buyers seeking long-term upside and flexibility.
Key Highlights
- Semi‑detached 2‑family home with approximately 2,500+ sq ft of interior space and 3 stories plus basement
- Brick construction with flat roof; flooring includes tile and hardwood
- Built‑in garage plus additional parking, along with front and back yard areas
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.9k | $51.00 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $125.5k | $50.03 |
| − OpEx | −$37.6k | −$15.01 |
| NOI | $87.8k | $35.02 |
2,508 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,834 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$1.09M
$957.1K – $1.28M
NOI $76,567 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,364 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Parkway School
High School
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two-family home in Canarsie with income potential and parking.
Where is this triplex located?
The property is located at 685 Rockaway Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Semi‑detached 2‑family home with approximately 2,500+ sq ft of interior space and 3 stories plus basement; Brick construction with flat roof; flooring includes tile and hardwood; Built‑in garage plus additional parking, along with front and back yard areas
