2-Family Brick
For Sale
$1,590,000
8775 23rd Ave, Brooklyn, NY 11214
Three stories and a basement provide separate living areas, heating, and hot-water systems for the two residences.
Property Size2,280 SF
Days on Market12
Property Features for 8775 23rd Ave
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,048
Building Details
Building Size
2,280 SF
Year Built
1960
Stories
2
Listing Agency:
Tiger Realty
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(917) 708-9966
Source:
Elliman
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 9 at 9:48PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This legal two-family brick property at 8775 23rd Ave has three stories above a basement and occupies an approximately 19.5' x 97' lot. The first floor measures approximately 19.5' x 43' and includes two bedrooms and a living room. A duplex on the second floor measures approximately 19.5' x 37', with three bedrooms and 1.5 bathrooms. Each residence has a separate heating and hot-water system. The basement offers storage or recreation space, and the backyard can accommodate parking for up to two cars.
The property is about a five-minute walk from 86th Street, with shopping, supermarkets, restaurants, and public transportation nearby. Its Walk Score is 96, Transit Score is 86, and Bike Score is 67. Built in 1960, the property is located in Brooklyn, NY 11214.
The property is about a five-minute walk from 86th Street, with shopping, supermarkets, restaurants, and public transportation nearby. Its Walk Score is 96, Transit Score is 86, and Bike Score is 67. Built in 1960, the property is located in Brooklyn, NY 11214.
Key Highlights
- Legal two‑family brick property with three stories and a basement
- Lot measures approximately 19.5' x 97'
- First floor: approximately 19.5' x 43', with 2 bedrooms and a living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,187
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,243,740
$1.2M
Cap Rate 7%
$888,386
$888.4K
Cap Rate 9%
$690,967
$691.0K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$93.0K $40.80/SF
− Vacancy
−$4.2K −$1.84/SF
EGI
$88.8K $38.96/SF
− OpEx
−$26.7K −$11.69/SF
NOI
$62.2K $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%
$1,243,740
Cap Rate 7%
$888,386
Cap Rate 9%
$690,967
Alternative Uses
Best Use
Multifamily LT 5
$888.4K
$777.3K – $1.04M
NOI $62,187 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$796.2K
$696.7K – $928.9K
NOI $55,733 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,103 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,851
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?
Duplex - Three stories and a basement provide separate living areas, heating, and hot-water systems for the two residences.
Where is this duplex located?
The property is located at 8775 23rd Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Legal two‑family brick property with three stories and a basement; Lot measures approximately 19.5' x 97'; First floor: approximately 19.5' x 43', with 2 bedrooms and a living room
