Crown Heights Multifamily Investment
689 Lincoln Pl 4A, Brooklyn, NY 11216
Income-producing multifamily property in Crown Heights, Brooklyn with six apartments.
Type:Commercial/Industrial
Property size:
6,000 SFPrice / SF:
$383/SF- Added:
- Mar 24, 2026
- Days on Market:
- 61
- Last Refresh:
- Feb 11 at 8:42 am
Property Features for 689 Lincoln Pl 4A
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1931
Listing agent Angela P. Stokes License #10491208284
Listing office A P S Realty LLC (917) 459-1791
Listing date Mar 24, 2026
Source Exitrealty
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 A P S Realty LLC
HighLights
- Great income‑producing property with 6 two‑bedroom apartments.
- Located in Crown Heights, Brooklyn.
- Excellent condition.
- Spacious basement with above‑ground windows and walk‑out access.
- Each unit features a living room/dining room combo, kitchen, and full bathroom.
- Green features: Insulated doors.
Overview
Located in the Crown Heights section of Brooklyn, this multifamily property features six apartments. Each apartment includes two bedrooms, one full bathroom, a living room/dining room combination, and a kitchen. The building has a basement with above-ground windows that is extremely spacious and has a walk-out door. The property offers greenery and space for outdoor entertaining. The building size is 6000 square feet. The property's appearance is excellent and features insulated doors. Interior features include a living room/dining room.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.04M
NOI $183,174 @ 9.00% cap · cautious / downside scenario
Moderate
$2.62M
NOI $183,174 @ 7.00% cap · market / base-case scenario
Aggressive
$3.66M
NOI $183,174 @ 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 Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $339.8k | $56.64 |
| − Vacancy | −$6.8k | −$1.13 |
| EGI | $333.0k | $55.51 |
| − OpEx | −$149.9k | −$24.98 |
| NOI | $183.2k | $30.53 |
6,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.62M
$2.29M – $3.05M
NOI $183,174 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.953668
- Latitude
- 40.671205
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Income-producing multifamily property in Crown Heights, Brooklyn with six apartments.
Where is this apartment building located?
The property is located at 689 Lincoln Pl 4A Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Great income‑producing property with 6 two‑bedroom apartments.; Located in Crown Heights, Brooklyn.; Excellent condition.
