Apartment Building With Finished
For Sale
$1,287,000
1646 Benson Avenue, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size4,750 SF
Lot Size0.04 Acres
Price / SF$270.95
Days on Market56
Property Features for 1646 Benson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
14
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bathroom 3, Bedroom 3, Bedroom 12, Bedroom 10, Bedroom 7, Bathroom 4, Bathroom 5, Bathroom 2, Bathroom 6, Bedroom 2, Bedroom 14, Bedroom 13, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 11
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
4,750 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
19021
Building Details
Year built
1926
Floors in Building
3
Number of units
6
Building materials
Brick
Roof type
Flat
Listing Agency:
Winzone Realty Inc
Listed By:
Bin Hu Zhan
(718) 676-6611
Added: Jul 15
Changed: Sep 5
Last Checked: Sep 8 at 12:06PM
MLS# 503047
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 detached brick multifamily property was built in 1926 and includes six residential apartments across three stories, along with a finished full basement featuring separate entrances. The unit mix comprises two three-bedroom apartments and four two-bedroom apartments. Interior features include window A/C units, refrigerators, and stoves, while the building has a flat roof and brick construction.
The property occupies a corner position at 1646 Benson Avenue in Brooklyn’s Bensonhurst section. It is located near 86th Street, with restaurants, cafes, shopping, supermarkets, banks, schools, pharmacies, and public transportation in the surrounding area. The certificate of occupancy documents one parking space. Separate gas and electric metering is provided, with seven gas meters and seven electric meters.
The property occupies a corner position at 1646 Benson Avenue in Brooklyn’s Bensonhurst section. It is located near 86th Street, with restaurants, cafes, shopping, supermarkets, banks, schools, pharmacies, and public transportation in the surrounding area. The certificate of occupancy documents one parking space. Separate gas and electric metering is provided, with seven gas meters and seven electric meters.
Key Highlights
- Six residential apartments: two 3‑bedroom units and four 2‑bedroom units
- Three‑story brick building with a finished full basement and separate entrances
- Detached corner property at 1646 Benson Avenue, Brooklyn, NY 11214
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
$116,111
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
9.02%
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%
$2,322,220
$2.3M
Cap Rate 7%
$1,658,729
$1.7M
Cap Rate 9%
$1,290,122
$1.3M
Market Conditions
NOI Build-Up for 4,750 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
$219.5K $46.20/SF
− Vacancy
−$8.3K −$1.76/SF
EGI
$211.1K $44.44/SF
− OpEx
−$95.0K −$20.00/SF
NOI
$116.1K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$2,322,220
Cap Rate 7%
$1,658,729
Cap Rate 9%
$1,290,122
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,111 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,964 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,677
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Apartment building - Detached corner multifamily property with six apartments, a finished basement, and one documented parking space.
Where is this apartment building located?
The property is located at 1646 Benson Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,287,000.
What are key features of this property?
This property features: Six residential apartments: two 3‑bedroom units and four 2‑bedroom units; Three‑story brick building with a finished full basement and separate entrances; Detached corner property at 1646 Benson Avenue, Brooklyn, NY 11214
