Brick Duplex with Private
For Sale
$1,289,000
Pending
994 WILLOUGHBY Ave, Brooklyn, NY 11221
Legal two-family residence with flexible layouts, outdoor space, attic expansion options, and R6 zoning.
Property Size880 SF
Lot Size0.05 Acres
Days on Market172
Property Features for 994 WILLOUGHBY Ave
General Information
Standard status
Pending
Size
880 SF
Total Parking Spaces
1
Lot size
0.05 Acres
Property subtype
Multi Family
Zoning
R6
Units
Unit Mix
1 x 2BR/1BA + bonus room, 1 x 3BR/1BA + bonus room
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,604
Amenities
private backyard
in-unit washer/dryer
front yard
Building Details
Building Size
880 SF
Year Built
1901
Buildings
1
Stories
2
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Jason Abrishami · License #10301216796
(347) 381-4168
Source:
Elliman
Added: May 9
Changed: Oct 25
Last Checked: Oct 26 at 4:28PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This 1901 brick duplex is configured as a legal two-family residence with approximately 3,607 square feet. The lower unit includes two bedrooms, one full bathroom, an additional room off the kitchen, private backyard access, and a semi-finished lower level with recreation rooms, storage, mechanical space, and interior garage access. The upper residence offers three bedrooms, one bathroom, an additional flexible room, and an in-unit washer and dryer. A full attic of approximately 695 square feet has vaulted ceilings and may support a duplex configuration, subject to applicable approvals.
Original parquet flooring, wood detailing, exposed basement beams, a brick facade, front yard area, multiple access points, a curb cut, and a private garage add functional and architectural value. The property occupies a 25-foot by 95-foot lot, with a 22-foot by 40-foot building footprint. R6 zoning provides a residential FAR of 2.2 and a facility FAR of 4.8, with approximately 1,615 square feet of unused FAR and a maximum buildable area of 5,225 square feet. Located in Bushwick between Central Avenue and Evergreen Avenue, the property has walk, bike, and transit scores of 82, 70, and 84, respectively.
Original parquet flooring, wood detailing, exposed basement beams, a brick facade, front yard area, multiple access points, a curb cut, and a private garage add functional and architectural value. The property occupies a 25-foot by 95-foot lot, with a 22-foot by 40-foot building footprint. R6 zoning provides a residential FAR of 2.2 and a facility FAR of 4.8, with approximately 1,615 square feet of unused FAR and a maximum buildable area of 5,225 square feet. Located in Bushwick between Central Avenue and Evergreen Avenue, the property has walk, bike, and transit scores of 82, 70, and 84, respectively.
Key Highlights
- Legal two‑family residence with approximately 3,607 square feet
- Full attic of approximately 695 square feet with vaulted ceilings
- Private garage with curb cut and interior access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,118
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,202,360
$2.2M
Cap Rate 7%
$1,573,114
$1.6M
Cap Rate 9%
$1,223,533
$1.2M
Market Conditions
NOI Build-Up for 3,607 SF
Gross rent
$204.3K $56.64/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$200.2K $55.51/SF
− OpEx
−$90.1K −$24.98/SF
NOI
$110.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,202,360
Cap Rate 7%
$1,573,114
Cap Rate 9%
$1,223,533
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.11M
NOI $126,323 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$1.57M
$1.38M – $1.84M
NOI $110,118 @ 7.0% cap · market cap 8.54%
Theoretical Best
Specialty Retail
$2.99M
$2.61M – $3.48M
NOI $209,062 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,013
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence with flexible layouts, outdoor space, attic expansion options, and R6 zoning.
Where is this duplex located?
The property is located at 994 WILLOUGHBY Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,289,000.
What are key features of this property?
This property features: Legal two‑family residence with approximately 3,607 square feet; Full attic of approximately 695 square feet with vaulted ceilings; Private garage with curb cut and interior access
