Semi-Detached 6-Unit Brick
For Sale
$1,499,000
Pending
8619 23rd Ave, Brooklyn, NY 11214
Well-maintained 6-family brick building with a private driveway and front carport, featuring six two-bedroom apartments.
Property Size5,544 SF
Lot Size0.07 Acres
Days on Market182
Property Features for 8619 23rd Ave
General Information
Standard status
Pending
Size
5,544 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$19,279
Building Details
Building Size
5,544 SF
Year Built
1925
Stories
3
Tenancy
Multi
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Apr 28
Changed: Oct 25
Last Checked: Oct 24 at 7:36PM
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 Womcore LLC dba Remax Edge
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Investment Insights
Based on property information with market context.
This semi-detached 6-family brick apartment building offers six spacious two-bedroom units. Each apartment is equipped with its own separate gas boiler and water heater, allowing residents to pay their own heating and hot water. The property includes a full basement, and it also features a private driveway with a front carport for added convenience.
Located in the heart of the Bensonhurst/Bath Beach area, the building is just minutes from the subway and the commercial corridor along 86th Street. The property sits on residential and commercial overlay zoning.
For a buyer or investor seeking a well-kept multi-family structure with individually metered heating and hot water setups, this building’s configuration supports straightforward building operations across its six unit mix.
Located in the heart of the Bensonhurst/Bath Beach area, the building is just minutes from the subway and the commercial corridor along 86th Street. The property sits on residential and commercial overlay zoning.
For a buyer or investor seeking a well-kept multi-family structure with individually metered heating and hot water setups, this building’s configuration supports straightforward building operations across its six unit mix.
Key Highlights
- Well‑maintained 6‑family brick building built in 1925, with six spacious 2‑bedroom apartments
- Each unit has separate gas boiler and water heater systems for tenant‑paid heat and hot water
- Building size 24’ x 77’ (approximately 5,544 SF) with a full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,520
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,710,400
$2.7M
Cap Rate 7%
$1,936,000
$1.9M
Cap Rate 9%
$1,505,778
$1.5M
Market Conditions
NOI Build-Up for 5,544 SF
Gross rent
$256.1K $46.20/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$246.4K $44.44/SF
− OpEx
−$110.9K −$20.00/SF
NOI
$135.5K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,710,400
Cap Rate 7%
$1,936,000
Cap Rate 9%
$1,505,778
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,520 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,387 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,494
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 6-family brick building with a private driveway and front carport, featuring six two-bedroom apartments.
Where is this apartment building located?
The property is located at 8619 23rd Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Well‑maintained 6‑family brick building built in 1925, with six spacious 2‑bedroom apartments; Each unit has separate gas boiler and water heater systems for tenant‑paid heat and hot water; Building size 24’ x 77’ (approximately 5,544 SF) with a full basement
