Three-Unit Brownstone
For Sale
$2,800,000
887 Lafayette Avenue, Brooklyn, NY 11221
Three distinct homes feature private outdoor areas, in-unit laundry, and separate utility meters.
Property Size3,496 SF
Lot Size0.04 Acres
Price / SF$800.92
Days on Market80
Property Features for 887 Lafayette Avenue
General Information
Standard status
Active
Size
3,496 SF
Lot size
0.04 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/3BA duplex, 1 x 2BR/2BA parlor, 1 x 5BR/2BA upper duplex
Multifamily Units
3
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,051
Amenities
hardwood floors
exposed brick
modern bathrooms
stainless-steel appliances
quartz countertops
in-unit washer/dryer
rooftop access
paved backyard
marble baths
Beamed Ceilings
Ceiling Fan(s)
Eat-in Kitchen
ENERGY STAR Qualified Door(s)
Entrance Foyer
Marble Counters
Natural Woodwork
Open Floorplan
Open Kitchen
Pantry
Smart Thermostat
Stone Counters
Storage
Walk Through Kitchen
Walk-In Closet(s)
Washer/Dryer Hookup
Building Details
Building Size
3,496 SF
Year Built
1899
Buildings
1
Units
3
Construction
brownstone-style
Listing Agency:
Exit Realty First Choice
Listed By:
Steven S. Benshabat · License #KEY144530
(718) 380-2500
Source:
Clairedleone
Added: Aug 6
Changed: Oct 23
Last Checked: Oct 23 at 3:17PM
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 Exit Realty First Choice
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Investment Insights
Based on property information with market context.
This three-family brownstone-style property at 887 Lafayette Avenue in Brooklyn contains three residences: a 3-bedroom, 3-bath duplex; a 2-bedroom, 2-bath parlor-level home; and a 5-bedroom, 2-bath upper duplex. The duplexes offer a paved backyard and rooftop access, respectively. Interior finishes include hardwood flooring, exposed brick, contemporary bathrooms, stainless-steel appliances, and quartz countertops. Each residence has its own boiler, separate gas and electric meters, and an in-unit washer and dryer.
Two of the three homes are occupied. The building dates to 1899.
Two of the three homes are occupied. The building dates to 1899.
Key Highlights
- Three residences: 3‑bedroom/3‑bath duplex, 2‑bedroom/2‑bath parlor home, and 5‑bedroom/2‑bath upper duplex
- Paved backyard and rooftop access
- Separate boiler, gas meter, and electric meter for each home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,436
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,448,720
$2.4M
Cap Rate 7%
$1,749,086
$1.7M
Cap Rate 9%
$1,360,400
$1.4M
Market Conditions
NOI Build-Up for 3,496 SF
Gross rent
$178.3K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$174.9K $50.03/SF
− OpEx
−$52.5K −$15.01/SF
NOI
$122.4K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,448,720
Cap Rate 7%
$1,749,086
Cap Rate 9%
$1,360,400
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,436 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,729 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.38M
NOI $202,628 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,896
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct homes feature private outdoor areas, in-unit laundry, and separate utility meters.
Where is this triplex located?
The property is located at 887 Lafayette Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Three residences: 3‑bedroom/3‑bath duplex, 2‑bedroom/2‑bath parlor home, and 5‑bedroom/2‑bath upper duplex; Paved backyard and rooftop access; Separate boiler, gas meter, and electric meter for each home
