Totally Renovated Legal 6-Family
For Sale
$1,649,000
6909 15th Avenue, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size4,920 SF
Lot Size0.06 Acres
Price / SF$335.16
Days on Market1341
Property Features for 6909 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 5, Bedroom 8, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 7, Bedroom 2, Bedroom 10, Bathroom 6, Bedroom 6, Bedroom 12, Bedroom 11, Bedroom 9
Interior features
Stove
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
4,920 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
18371
Building Details
Year built
1924
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #40AN0957928
(718) 532-2000
Added: Dec 20, 2022
Changed: Aug 5
Last Checked: Aug 22 at 1:06AM
MLS# 470681
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.
Totally renovated brick apartment building constructed in 1924, offering legal 6-family residential income use. The property sits on a 0.0604-acre lot and totals 4,920 square feet. Improvements include a new roof and a new boiler. Interior features include a stove, with hardwood and tile flooring throughout, and a flat roof.
The building is located at 6909 15th Avenue, Brooklyn, NY 11228, in Kings (Brooklyn) County. Public remarks note it is one short block to all transportation.
With R5 zoning, this fully renovated legal 6-family provides a straightforward multifamily configuration for prospective buyers seeking a brick income property with recent building systems updates.
The building is located at 6909 15th Avenue, Brooklyn, NY 11228, in Kings (Brooklyn) County. Public remarks note it is one short block to all transportation.
With R5 zoning, this fully renovated legal 6-family provides a straightforward multifamily configuration for prospective buyers seeking a brick income property with recent building systems updates.
Key Highlights
- Legal 6‑family totally renovated brick apartment building
- New roof and new boiler
- 4,920 SF building on a 0.0604‑acre lot
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
$150,202
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
9.11%
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%
$3,004,040
$3.0M
Cap Rate 7%
$2,145,743
$2.1M
Cap Rate 9%
$1,668,911
$1.7M
Market Conditions
NOI Build-Up for 4,920 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
$278.7K $56.64/SF
− Vacancy
−$5.6K −$1.13/SF
EGI
$273.1K $55.51/SF
− OpEx
−$122.9K −$24.98/SF
NOI
$150.2K $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%
$3,004,040
Cap Rate 7%
$2,145,743
Cap Rate 9%
$1,668,911
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.50M
NOI $150,202 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.75M
NOI $285,163 @ 7.0% cap · market cap 17.29%
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
3,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 legal 6-family in R5 zoning with new roof and new boiler, fully renovated and close to transportation.
Where is this apartment building located?
The property is located at 6909 15th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Legal 6‑family totally renovated brick apartment building; New roof and new boiler; 4,920 SF building on a 0.0604‑acre lot
