Two Multifamily Buildings For
For Sale
Contact for pricing
907 47th Street, Brooklyn, NY 11219
Two multifamily buildings offering a compact income property configuration for investors or owner-operators.
Property Size6,080 SF
Price / SF$863.49
Days on Market66
Property Features for 907 47th Street
General Information
Standard status
Active
Size
6,080 SF
Property subtype
Multifamily
Zoning
R6
Investment Type
Redevelopment
Building Details
Year Built
1920
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
Alpha Realty NY
Listed By:
Lev Mavashev · License #NY 10351208812
Source:
Crexi
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 8 at 1:34PM
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 Alpha Realty NY
Investment Insights
Based on property information with market context.
This offering consists of two multifamily buildings totaling 6,080 square feet. The property is presented for sale as a bundled multifamily asset, providing an owner with two separate buildings within the same overall acquisition.
Located at 907 47th Street in Brooklyn, New York (11219), the buildings offer a straightforward, street-addressed residential income setup. The transaction is structured as a for-sale opportunity for buyers seeking a compact multifamily portfolio rather than a single-building purchase.
For investors and owner-operators, a two-building configuration can be useful when evaluating resident demand and property management planning within a single acquisition. Buyers can review the existing building structures and the overall multifamily layout as they determine fit with their operating strategy and financing plans. This is a direct purchase opportunity for those looking to acquire a residential income property comprised of two multifamily buildings.
Located at 907 47th Street in Brooklyn, New York (11219), the buildings offer a straightforward, street-addressed residential income setup. The transaction is structured as a for-sale opportunity for buyers seeking a compact multifamily portfolio rather than a single-building purchase.
For investors and owner-operators, a two-building configuration can be useful when evaluating resident demand and property management planning within a single acquisition. Buyers can review the existing building structures and the overall multifamily layout as they determine fit with their operating strategy and financing plans. This is a direct purchase opportunity for those looking to acquire a residential income property comprised of two multifamily buildings.
Key Highlights
- Two multifamily buildings
- Total building size: 6,080 SF
- Year built: 1920
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,615
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,152,300
$3.2M
Cap Rate 7%
$2,251,643
$2.3M
Cap Rate 9%
$1,751,278
$1.8M
Market Conditions
NOI Build-Up for 6,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$299.1K $49.20/SF
− Vacancy
−$12.6K −$2.07/SF
EGI
$286.6K $47.13/SF
− OpEx
−$129.0K −$21.21/SF
NOI
$157.6K $25.92/SF
Area
ZIP 11219
Vacancy
4.20%
Lease Rate
$49.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,152,300
Cap Rate 7%
$2,251,643
Cap Rate 9%
$1,751,278
Alternative Uses
Best Use
Apartment 5plus
$2.25M
$1.97M – $2.63M
NOI $157,615 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $275,906 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two multifamily buildings offering a compact income property configuration for investors or owner-operators.
Where is this multifamily property located?
The property is located at 907 47th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Two multifamily buildings; Total building size: 6,080 SF; Year built: 1920
