Detached Brick Three-Family
For Sale
$1,895,000
2518 W 1st Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size1,800 SF
Lot Size0.07 Acres
Price / SF$1,052
Days on Market185
Property Features for 2518 W 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 4
Interior features
Alarm, Dishwasher, Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Gravesend
Standard status
Active
Size
1,800 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10450
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Brick, Wood Frame
Roof type
Rubber, Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #40AN0957928
(718) 532-2000
Added: Feb 18
Changed: Aug 5
Last Checked: Aug 22 at 11:06PM
MLS# 499063
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 brick three-family home on a 0.0689-acre lot, delivered completely vacant. The home features a spacious, flexible layout with a first-floor unit offering three bedrooms and two bathrooms. The second floor includes two separate apartments, including one with two bedrooms and another with one bedroom. A full finished basement adds additional functional space.
Interior features include hardwood and tile flooring, along with an alarm and appliances such as a dishwasher, microwave, refrigerator, and stove. Construction materials are brick and wood frame, with a flat rubber roof.
Parking is provided via a private two-car garage that can support secure parking and additional storage. Built in 1950, the property is located near Avenue Y and Avenue Z, with access to local amenities, schools, and transportation.
Interior features include hardwood and tile flooring, along with an alarm and appliances such as a dishwasher, microwave, refrigerator, and stove. Construction materials are brick and wood frame, with a flat rubber roof.
Parking is provided via a private two-car garage that can support secure parking and additional storage. Built in 1950, the property is located near Avenue Y and Avenue Z, with access to local amenities, schools, and transportation.
Key Highlights
- 0.0689‑acre lot with a detached brick three‑family layout
- R4 zoning
- First‑floor unit: three bedrooms and two bathrooms
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
$63,039
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
3.33%
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%
$1,260,780
$1.3M
Cap Rate 7%
$900,557
$900.6K
Cap Rate 9%
$700,433
$700.4K
Market Conditions
NOI Build-Up for 1,800 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
$91.8K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$90.1K $50.03/SF
− OpEx
−$27.0K −$15.01/SF
NOI
$63.0K $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%
$1,260,780
Cap Rate 7%
$900,557
Cap Rate 9%
$700,433
Alternative Uses
Best Use
Multifamily LT 5
$900.6K
$788.0K – $1.05M
NOI $63,039 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,328 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,407
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R4 zoned detached three-family brick home with private two-car garage, hardwood and tile flooring, and finished basement.
Where is this triplex located?
The property is located at 2518 W 1st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 0.0689‑acre lot with a detached brick three‑family layout; R4 zoning; First‑floor unit: three bedrooms and two bathrooms
