Four-Unit Brick
For Sale
$1,690,000
1888 W 6th Street, Brooklyn, NY 11223
Residential, Duplex, Brooklyn, NY
Property Size3,485 SF
Lot Size0.06 Acres
Price / SF$484.94
Days on Market296
Property Features for 1888 W 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5B
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 8, Bedroom 2, Bedroom 9, Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 7, Bedroom 10, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Gravesend
Standard status
Active
Size
3,485 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
12291
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Momentum Real Estate LLC
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Nov 25, 2025
Changed: Sep 15
Last Checked: Sep 17 at 9:06PM
MLS# 497576
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 3,485-square-foot brick quadplex, built in 1931, contains four residential units across two floors. The first level includes two two-bedroom apartments, each with one full bathroom. Two additional three-bedroom apartments occupy the second floor, also with one full bathroom each. Hardwood flooring, refrigerators, and stoves are included, while the finished basement provides additional interior space. A flat roof and shared driveway are also part of the property configuration.
The property is located in Brooklyn near Kings Highway and Avenue U, with transportation, shops, restaurants, and other neighborhood services nearby. The lot encompasses 0.0574 acres and carries R5B zoning.
The property is located in Brooklyn near Kings Highway and Avenue U, with transportation, shops, restaurants, and other neighborhood services nearby. The lot encompasses 0.0574 acres and carries R5B zoning.
Key Highlights
- Four‑unit brick property with 3,485 square feet of building area
- Unit mix includes two 2‑bedroom apartments and two 3‑bedroom apartments
- Each apartment includes 1 full bathroom
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
$122,051
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
7.22%
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%
$2,441,020
$2.4M
Cap Rate 7%
$1,743,586
$1.7M
Cap Rate 9%
$1,356,122
$1.4M
Market Conditions
NOI Build-Up for 3,485 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
$177.7K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$174.4K $50.03/SF
− OpEx
−$52.3K −$15.01/SF
NOI
$122.1K $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%
$2,441,020
Cap Rate 7%
$1,743,586
Cap Rate 9%
$1,356,122
Alternative Uses
Best Use
Multifamily LT 5
$1.74M
$1.53M – $2.03M
NOI $122,051 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,393 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$2.89M
$2.52M – $3.37M
NOI $201,991 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,643
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property with varied unit layouts, finished basement space, and shared driveway access.
Where is this quadplex located?
The property is located at 1888 W 6th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Four‑unit brick property with 3,485 square feet of building area; Unit mix includes two 2‑bedroom apartments and two 3‑bedroom apartments; Each apartment includes 1 full bathroom
