Three-Family Residential Income
For Sale
$1,499,000
Pending
949 4th Avenue, Brooklyn, NY 11232
Three-family income property with R7A, C2-4 zoning and direct subway access for flexible future planning.
Property Size3,000 SF
Days on Market125
Property Features for 949 4th Avenue
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Multi Family
Zoning
R7A, C2-4
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,600
Building Details
Building Size
3,000 SF
Year Built
1910
Listing Agency:
Compass
Listed By:
Parviz Latipzoda · License #10301222789
(917) 847-7771
Source:
Penrealty
Added: Jun 17
Changed: Oct 15
Last Checked: Oct 16 at 2:51PM
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 Compass
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Investment Insights
Based on property information with market context.
This three-family triplex offers residential income with a zoning framework that supports future flexibility. The property is carried under R7A and C2-4 zoning, with 6,480 square feet of maximum buildable area and 3,483 square feet of remaining development potential, providing room for expansion or redevelopment planning. The asset totals 3,483 square feet of remaining development capacity under the stated zoning configuration.
Located at 949 4th Ave in Greenwood Heights, Brooklyn, the property sits directly next to the D, N, and R subway station. It is positioned on one of Brooklyn’s busiest commercial corridors, supported by very strong walk and transit environment metrics (walkScore 95 and transitScore 95), with a very bikeable setting (bikeScore 76).
For buyers, investors, developers, or end users, the combination of an operating three-family asset and zoning flexibility can support a range of strategies, including maintaining income use while evaluating expansion or redevelopment options consistent with the R7A, C2-4 parameters. The location’s direct rail access and heavy retail/commuter setting are also practical considerations for ongoing tenant appeal and day-to-day connectivity across Brooklyn and Manhattan.
Located at 949 4th Ave in Greenwood Heights, Brooklyn, the property sits directly next to the D, N, and R subway station. It is positioned on one of Brooklyn’s busiest commercial corridors, supported by very strong walk and transit environment metrics (walkScore 95 and transitScore 95), with a very bikeable setting (bikeScore 76).
For buyers, investors, developers, or end users, the combination of an operating three-family asset and zoning flexibility can support a range of strategies, including maintaining income use while evaluating expansion or redevelopment options consistent with the R7A, C2-4 parameters. The location’s direct rail access and heavy retail/commuter setting are also practical considerations for ongoing tenant appeal and day-to-day connectivity across Brooklyn and Manhattan.
Key Highlights
- Three‑family property built in 1910 in Greenwood Heights, Brooklyn
- R7A, C2‑4 zoning with 6,480 sq ft maximum buildable area and 3,483 sq ft remaining development potential
- Directly next to the D, N, and R subway station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,065
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,117
Businesses Nearby
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Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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-family income property with R7A, C2-4 zoning and direct subway access for flexible future planning.
Where is this triplex located?
The property is located at 949 4th Avenue 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: Three‑family property built in 1910 in Greenwood Heights, Brooklyn; R7A, C2‑4 zoning with 6,480 sq ft maximum buildable area and 3,483 sq ft remaining development potential; Directly next to the D, N, and R subway station
