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    Spacious Brooklyn Multi-Family Home

    685 Rockaway Parkway Brooklyn, NY 11236

    Claim this Listing
    For Sale
    $999,000

    MULTI_FAMILY - Brooklyn, NY

    Property size:
    2,508 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $398/SF
    Added:
    Nov 24, 2025
    Days on Market:
    231
    Last Refresh:
    Jul 13 at 4:06 am

    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 agent Peter Pan License #10401215383

    Listing office Tiger Realty 1484 86th Street, Brooklyn, NY

    Listing date Nov 24, 2025

    MLS# 497526 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    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 (±1% cap)
    NOI $87,834 @ 7.0% cap · market cap 8.79%
    Second Best
    Apartment 5plus
    $1.09M
    $957.1K – $1.28M (±1% cap)
    NOI $76,567 @ 7.0% cap · market cap 7.66%
    Theoretical Best
    Specialty Retail
    $2.08M
    $1.82M – $2.42M (±1% cap)
    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

    Suggested Use

    Law Firm Real Estate Agency Skin Care Clinic Gym & Fitness Center Dental Office Parking Lot & Garage Spa & Massage Center Acupuncture Accounting Firm Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

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    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
    Contact an agent
    (917) 708-9966
    We can help!
    Contact an agent
    Peter Pan
    Real Estate License ID: 10401215383
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