Four-Unit Building with Finished
For Sale
$1,299,000
688 Pennsylvania Avenue, Brooklyn, NY 11207
A private driveway and finished basement complement the property’s four-unit configuration.
Property Size3,116 SF
Price / SF$416.88
Days on Market174
Property Features for 688 Pennsylvania Avenue
General Information
Standard status
Active
Size
3,116 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
does require updates and improvements
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,756
Amenities
fully finished basement
private driveway
Eat-in Kitchen
Formal Dining
Building Details
Building Size
3,116 SF
Year Built
1923
Units
4
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Neriya Borukhov · License #10401357643
(718) 896-5555
Source:
Adamstreetrealty
Added: May 3
Changed: Oct 22
Last Checked: Oct 22 at 2:21PM
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 Winzone Realty Inc
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Investment Insights
Based on property information with market context.
Built in 1923, this four-unit property contains 3,116 square feet and includes a finished basement and private driveway. The units are maintained, though the property requires updates and improvements.
The existing layout accommodates four units. Conversion to an eight-family dwelling is described as a possibility, subject to required approvals.
The existing layout accommodates four units. Conversion to an eight-family dwelling is described as a possibility, subject to required approvals.
Key Highlights
- Four‑unit property with 3,116 square feet
- Finished basement provides additional usable space
- Private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,128
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,182,560
$2.2M
Cap Rate 7%
$1,558,971
$1.6M
Cap Rate 9%
$1,212,533
$1.2M
Market Conditions
NOI Build-Up for 3,116 SF
Gross rent
$158.9K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$155.9K $50.03/SF
− OpEx
−$46.8K −$15.01/SF
NOI
$109.1K $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%
$2,182,560
Cap Rate 7%
$1,558,971
Cap Rate 9%
$1,212,533
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $109,128 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,128 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,603 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,339
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?
Quadplex - A private driveway and finished basement complement the property’s four-unit configuration.
Where is this quadplex located?
The property is located at 688 Pennsylvania Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit property with 3,116 square feet; Finished basement provides additional usable space; Private driveway
