Six-Family Apartment
For Sale
$1,850,000
751 55th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size3,855 SF
Lot Size0.05 Acres
Price / SF$479.90
Days on Market10
Property Features for 751 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R6B
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 4, Bedroom 11, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 10, Bathroom 3, Bathroom 5, Bedroom 7, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 8, Bedroom 9
Interior features
Stove
Basement
Unfinished
Subdivision
Sunset Park
Standard status
Active
Size
3,855 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
18165
Building Details
Year built
1917
Floors in Building
3
Number of units
6
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Metro Realty Professionals
(718) 838-2600
Listed By:
Rui (Nancy) L Wu · License #10491203971
(718) 838-2600
Added: Jul 30
Changed: Aug 3
Last Checked: Aug 8 at 2:06PM
MLS# 503408
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.
Brick six-family apartment building built in 1917, featuring hardwood flooring throughout and a flat roof. Every room has at least a window. Interior features include stove.
Zoned R6B, the building sits on a 0.046-acre lot at 751 55th Street in Brooklyn, NY 11220. Five of the six units were renovated recently, with modern kitchens and bathrooms. The property is described as being close to the 8th Avenue business district.
With multiple bedrooms and bathrooms across the unit count shown in the property’s room list, this building offers a residential income structure for a buyer seeking a multifamily asset with at least partial unit renovations already completed.
Zoned R6B, the building sits on a 0.046-acre lot at 751 55th Street in Brooklyn, NY 11220. Five of the six units were renovated recently, with modern kitchens and bathrooms. The property is described as being close to the 8th Avenue business district.
With multiple bedrooms and bathrooms across the unit count shown in the property’s room list, this building offers a residential income structure for a buyer seeking a multifamily asset with at least partial unit renovations already completed.
Key Highlights
- Zoned R6B
- 0.046‑acre lot
- Built in 1917
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,800
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,056,000
$2.1M
Cap Rate 7%
$1,468,571
$1.5M
Cap Rate 9%
$1,142,222
$1.1M
Market Conditions
NOI Build-Up for 3,855 SF
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.
Gross rent
$194.3K $50.40/SF
− Vacancy
−$7.4K −$1.92/SF
EGI
$186.9K $48.48/SF
− OpEx
−$84.1K −$21.82/SF
NOI
$102.8K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,056,000
Cap Rate 7%
$1,468,571
Cap Rate 9%
$1,142,222
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.71M
NOI $102,800 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $174,937 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
7,625
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick six-family building zoned R6B with hardwood floors and five recently renovated units with modern kitchens and bathrooms.
Where is this apartment building located?
The property is located at 751 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Zoned R6B; 0.046‑acre lot; Built in 1917
