Detached Triplex
For Sale
$1,949,000
1844 W 11th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size3,000 SF
Lot Size0.08 Acres
Price / SF$649.67
Days on Market29
Property Features for 1844 W 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, Stove
Basement
Full, Finished
Subdivision
Gravesend
Standard status
Active
Size
3,000 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
11483
Amenities
split-unit air conditioning
full finished basement
detached garage
private driveway
fenced backyard
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Peter Pan · License #10401215383
(917) 708-9966
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 27 at 10:06PM
MLS# 503340
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.
Detached three-family (triplex) home at 1844 W 11th Street featuring approximately 3,000 square feet of living space. The property contains three spacious units: a 3-bedroom, 1-bath unit; a 4-bedroom, 1-bath unit; and a 1-bedroom, 1-bath unit. All units are currently vacant with no leases in place, providing flexibility for owner occupancy or market-rate rentals.
Each of the three apartments is equipped with its own split-unit air conditioning system. There is also a full finished basement offering additional bonus space for recreation or storage. The home includes gas heat with steam radiators, hardwood and tile flooring, and a brick-faced exterior supported by a poured concrete foundation. Built in 1925 with a wood frame construction, the roof is shingle.
The lot is 0.0758 acres with a fenced backyard, a detached garage, and a private driveway with parking for six or more vehicles. The home is located between Avenue S and Highlawn Avenue, minutes from shopping, restaurants, schools, parks, and public transportation, including the F train and multiple bus lines, with convenient access to Ocean Parkway and the Belt Parkway.
Each of the three apartments is equipped with its own split-unit air conditioning system. There is also a full finished basement offering additional bonus space for recreation or storage. The home includes gas heat with steam radiators, hardwood and tile flooring, and a brick-faced exterior supported by a poured concrete foundation. Built in 1925 with a wood frame construction, the roof is shingle.
The lot is 0.0758 acres with a fenced backyard, a detached garage, and a private driveway with parking for six or more vehicles. The home is located between Avenue S and Highlawn Avenue, minutes from shopping, restaurants, schools, parks, and public transportation, including the F train and multiple bus lines, with convenient access to Ocean Parkway and the Belt Parkway.
Key Highlights
- 0.0758‑acre lot with fenced backyard, detached garage, and private driveway
- Approximately 3,000 SF detached three‑family home built in 1925
- Three units: 3 bed/1 bath, 4 bed/1 bath, and 1 bed/1 bath
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
$105,065
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
5.39%
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%
$2,101,300
$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
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
$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 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%
$2,101,300
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 5.39%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,765
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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?
Triplex - Detached three-unit property on R4A zoning with fenced yard and private driveway, all units vacant.
Where is this triplex located?
The property is located at 1844 W 11th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: 0.0758‑acre lot with fenced backyard, detached garage, and private driveway; Approximately 3,000 SF detached three‑family home built in 1925; Three units: 3 bed/1 bath, 4 bed/1 bath, and 1 bed/1 bath
