Brick 4-Unit
New
For Sale
$1,649,000
1113 Coney Island Ave, Brooklyn, NY 11230
Four-family residential property with two-bedroom apartments and potential owner-occupancy flexibility.
Property Size3,640 SF
Days on Market2
Property Features for 1113 Coney Island Ave
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,174
Building Details
Building Size
3,640 SF
Year Built
1931
Stories
2
Construction
brick
Listing Agency:
Ben Bay Realty Co
Listed By:
Joseph F. Girgenti
(718) 372-6442
Source:
Elliman
Added: Sep 5
Last Checked: Sep 5 at 3:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This brick quadplex, built in 1931, contains four residential apartments, each configured with two bedrooms. The property offers a four-family layout suitable for residential income use, with the possibility that two apartments may be delivered vacant at closing.
The building is located at 1113 Coney Island Ave in Brooklyn’s Flatbush neighborhood. Shopping and transportation are nearby, while reported walkability and transit scores are both 93. The property also has a bike score of 68.
The building is located at 1113 Coney Island Ave in Brooklyn’s Flatbush neighborhood. Shopping and transportation are nearby, while reported walkability and transit scores are both 93. The property also has a bike score of 68.
Key Highlights
- Four‑family brick property built in 1931
- Four apartments, each with a two‑bedroom layout
- Two units may be delivered vacant at closing
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
$127,479
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
7.73%
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%
$2,549,580
$2.5M
Cap Rate 7%
$1,821,129
$1.8M
Cap Rate 9%
$1,416,433
$1.4M
Market Conditions
NOI Build-Up for 3,640 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
$185.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$182.1K $50.03/SF
− OpEx
−$54.6K −$15.01/SF
NOI
$127.5K $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%
$2,549,580
Cap Rate 7%
$1,821,129
Cap Rate 9%
$1,416,433
Alternative Uses
Best Use
Multifamily LT 5
$1.82M
$1.59M – $2.12M
NOI $127,479 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,125 @ 7.0% cap · market cap 6.74%
Theoretical Best
Specialty Retail
$3.01M
$2.64M – $3.52M
NOI $210,974 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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?
Quadplex - Four-family residential property with two-bedroom apartments and potential owner-occupancy flexibility.
Where is this quadplex located?
The property is located at 1113 Coney Island Ave 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: Four‑family brick property built in 1931; Four apartments, each with a two‑bedroom layout; Two units may be delivered vacant at closing
