Spacious Brooklyn Multi-Family
685 Rockaway Parkway, Brooklyn, NY 11236
MULTI_FAMILY - Brooklyn, NY
Property size:
2,508 SFLot size:
0.07 AcresPrice / SF:
$398/SF- Added:
- Nov 24, 2025
- Days on Market:
- 174
- Last Refresh:
- May 17 at 8:06 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 6, Bedroom 8, Bedroom 7, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 9, Bathroom 5, Bedroom 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
- Hardwood, Tile
- Building materials
- Brick
- Roof type
- Flat
Listing agent Peter Pan License #10401215383 (917) 708-9966
Listing office Tiger Realty 1484 86th Street, Brooklyn, NY (917) 708-9966
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.
HighLights
- Strong rental income: Property generates substantial monthly income from three units ($3,427 + $2,400 + $1,800).
- Large semi‑detached 2‑family home with approximately 2,500+ sq ft of interior space.
- Built‑in garage plus additional parking.
- Three 3‑bedroom units plus finished basement.
- Flexible living options: Ideal for end‑users, multi‑generational living, or repositioning.
- Convenient location near Canarsie‑Rockaway Parkway L train, bus lines, shopping, and restaurants.
Overview
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.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$975.9K
NOI $87,834 @ 9.00% cap · cautious / downside scenario
Moderate
$1.25M
NOI $87,834 @ 7.00% cap · market / base-case scenario
Aggressive
$1.76M
NOI $87,834 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| 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 Use Scenarios
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Parkway School
High School
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.910286
- Latitude
- 40.652725
Nearby Similar for Sale
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: Strong rental income: Property generates substantial monthly income from three units ($3,427 + $2,400 + $1,800).; Large semi‑detached 2‑family home with approximately 2,500+ sq ft of interior space.; Built‑in garage plus additional parking.
