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    1314 Sterling Pl Brooklyn, NY 11213

    For Sale
    $1,250,000

    Six-unit apartment building, prime Brooklyn location. High occupancy.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a well-maintained, three-story multifamily building located at 1314 Sterling Place in the desirable Brooklyn, New York neighborhood, zip code 11213. The property boasts six rent-stabilized units, currently enjoying 100% occupancy, generating a substantial annual rental income of $87,152.16. The building itself measures 26 x 77 feet, situated on a generous 26.33 x 120.25-foot lot. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $55,187.16, translating to an attractive 4.41% capitalization rate. Annual expenses are carefully managed and include real estate taxes ($10,765), water frontage fees ($6,200), insurance ($2,800), electricity ($1,200), and oil expenses ($11,000), totaling $31,965. This well-positioned property offers a compelling return on investment in a prime Brooklyn location, making it an ideal addition to any portfolio. The asking price for this exceptional multifamily asset is $1,250,000.

    Property Features for 1314 Sterling Pl

    General Information

    Property type
    Multifamily properties

    Building Details

    Stories
    3
    Units
    6

    HighLights

    • Prime Brooklyn location at 1314 Sterling Place, zip code 11213.
    • Six rent‑stabilized units, 100% occupancy, generating $87,152.16 annual rental income.
    • 26 x 77 ft building on a 26.33 x 120.25 ft lot.
    • $55,187.16 Net Operating Income (NOI), 4.41% capitalization rate.
    • Asking price: $1,250,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9351325
    Latitude
    40.6715002

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, prime Brooklyn location. High occupancy.
    Where is this multifamily property located?
    The property is located at 1314 Sterling Pl Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Prime Brooklyn location at 1314 Sterling Place, zip code 11213.; Six rent-stabilized units, 100% occupancy, generating $87,152.16 annual rental income.; 26 x 77 ft building on a 26.33 x 120.25 ft lot.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1314 Sterling Pl Brooklyn, NY 11213
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