Vacant 6-Family Apartment
For Sale
$2,500,000
1392 E 18th Street, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size6,496 SF
Lot Size0.07 Acres
Price / SF$384.85
Days on Market134
Property Features for 1392 E 18th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
13
Bathrooms
9
Full bathrooms
8
Half bathrooms
2
Rooms
Bedroom 10, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 6, Bedroom 8, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 11, Bathroom 9, Bedroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bedroom 9, Bedroom 12, Bathroom 4, Bathroom 7, Bedroom 13, Bathroom 8
Interior features
Central Air, Dishwasher, Refrigerator, Stove, Washer, Window Treatments
Basement
Finished
Subdivision
Midwood
Standard status
Active
Size
6,496 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
47962
Amenities
on-site laundry
Building Details
Year built
2007
Floors in Building
4
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Ilite Realty Inc
Listed By:
Yujie Zhang
(718) 975-0555
Added: Apr 27
Changed: Sep 5
Last Checked: Sep 7 at 4:06PM
MLS# 500863
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully vacant multifamily property contains 6,496 square feet in a brick building completed in 2007. The configuration includes four 1-bedroom, 1-bathroom apartments and two oversized 4-bedroom, 2.5-bathroom duplexes. Hardwood and tile flooring, full kitchens, central air, dishwashers, refrigerators, stoves, and laundry equipment are included. The property also provides three private rear parking spaces and has a flat roof.
Positioned at 1392 E 18th Street in Brooklyn, the building occupies a 30x100 lot and carries R4-1 zoning. Its vacant status means there are no existing leases or holdovers in place. The property is also identified with an 8.4% projected gross yield.
Positioned at 1392 E 18th Street in Brooklyn, the building occupies a 30x100 lot and carries R4-1 zoning. Its vacant status means there are no existing leases or holdovers in place. The property is also identified with an 8.4% projected gross yield.
Key Highlights
- 6,496‑square‑foot brick apartment building completed in 2007
- Fully vacant 6‑family property with no inherited leases or holdovers
- Unit mix includes four 1‑bed/1‑bath apartments and two 4‑bed/2.5‑bath duplexes
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
$198,316
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
7.93%
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%
$3,966,320
$4.0M
Cap Rate 7%
$2,833,086
$2.8M
Cap Rate 9%
$2,203,511
$2.2M
Market Conditions
NOI Build-Up for 6,496 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
$367.9K $56.64/SF
− Vacancy
−$7.4K −$1.13/SF
EGI
$360.6K $55.51/SF
− OpEx
−$162.3K −$24.98/SF
NOI
$198.3K $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 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%
$3,966,320
Cap Rate 7%
$2,833,086
Cap Rate 9%
$2,203,511
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,316 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,508 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,960
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Brick construction with duplex units, hardwood flooring, full kitchens, and on-site laundry.
Where is this apartment building located?
The property is located at 1392 E 18th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 6,496‑square‑foot brick apartment building completed in 2007; Fully vacant 6‑family property with no inherited leases or holdovers; Unit mix includes four 1‑bed/1‑bath apartments and two 4‑bed/2.5‑bath duplexes
