Triplex With Private
For Sale
$2,088,000
8614 Bay 16th St, Brooklyn, NY 11214
Three-family property with a finished basement and convenient off-street parking.
Property Size3,180 SF
Days on Market69
Property Features for 8614 Bay 16th St
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 2 x 3BR/1.5BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,111
Building Details
Building Size
3,180 SF
Year Built
2002
Buildings
1
Stories
3
Listed By:
Susie Li
(718) 382-0001
Source:
Elliman
Added: Aug 5
Changed: Oct 4
Last Checked: Oct 11 at 8:18AM
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 Susie Li
Investment Insights
Based on property information with market context.
Built in 2002, this three-family property includes three spacious units, each arranged with three bedrooms. The first-floor residence has one full bathroom, while the upper-level homes each include one full and one half bathroom. A fully finished basement adds usable interior space, and the private front driveway provides off-street parking.
The property is located at 8614 Bay 16th St in Brooklyn’s Bath Beach area, with shopping, restaurants, schools, and public transportation nearby. Walk Score is 96, Transit Score is 84, and Bike Score is 56, reflecting convenient access to neighborhood services and transportation options.
The property is located at 8614 Bay 16th St in Brooklyn’s Bath Beach area, with shopping, restaurants, schools, and public transportation nearby. Walk Score is 96, Transit Score is 84, and Bike Score is 56, reflecting convenient access to neighborhood services and transportation options.
Key Highlights
- Three‑family property with three bedrooms in each unit
- First‑floor unit includes 1 full bathroom; upper units each have 1.5 bathrooms
- Fully finished basement provides additional usable space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,734
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,734,680
$1.7M
Cap Rate 7%
$1,239,057
$1.2M
Cap Rate 9%
$963,711
$963.7K
Market Conditions
NOI Build-Up for 3,180 SF
Gross rent
$129.7K $40.80/SF
− Vacancy
−$5.8K −$1.84/SF
EGI
$123.9K $38.96/SF
− OpEx
−$37.2K −$11.69/SF
NOI
$86.7K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,734,680
Cap Rate 7%
$1,239,057
Cap Rate 9%
$963,711
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.45M
NOI $86,734 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$1.11M
$971.7K – $1.30M
NOI $77,733 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.86M
$1.62M – $2.16M
NOI $129,854 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with a finished basement and convenient off-street parking.
Where is this triplex located?
The property is located at 8614 Bay 16th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,088,000.
What are key features of this property?
This property features: Three‑family property with three bedrooms in each unit; First‑floor unit includes 1 full bathroom; upper units each have 1.5 bathrooms; Fully finished basement provides additional usable space
