Brick Four-Family
New
For Sale
$1,649,000
1113 Coney Island Avenue, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size3,640 SF
Lot Size0.05 Acres
Price / SF$453.02
Days on Market2
Property Features for 1113 Coney Island Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 3
Interior features
A/C Unit - Window, Refrigerator, Stove
Subdivision
Flatbush
Standard status
Active
Size
3,640 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
18174
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Ben Bay Rlty Co of Ave U LLC
(718) 372-6442
Listed By:
Joseph F. Girgenti
(718) 680-6442
Added: Sep 4
Last Checked: Sep 5 at 7:06AM
MLS# 504260
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 3,640-square-foot quadplex is a brick-built residential property completed in 1931. The four apartments each feature a two-bedroom layout, with hardwood flooring, window-unit A/C, refrigerators, and stoves. The building also includes a flat roof and four bathrooms.
Two apartments may be delivered vacant at closing, providing flexibility for an owner occupant or a purchaser planning to lease the units. The property occupies a 0.0522-acre lot and carries R6A zoning. It is located at 1113 Coney Island Avenue in Brooklyn’s 11230 postal area, near shopping and transportation in the Flatbush neighborhood.
Two apartments may be delivered vacant at closing, providing flexibility for an owner occupant or a purchaser planning to lease the units. The property occupies a 0.0522-acre lot and carries R6A zoning. It is located at 1113 Coney Island Avenue in Brooklyn’s 11230 postal area, near shopping and transportation in the Flatbush neighborhood.
Key Highlights
- Four‑family quadplex with 3,640 square feet
- Each apartment offers 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 - Well-maintained brick property with four two-bedroom apartments and potential owner-occupancy flexibility.
Where is this quadplex located?
The property is located at 1113 Coney Island 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: Four‑family quadplex with 3,640 square feet; Each apartment offers a two‑bedroom layout; Two units may be delivered vacant at closing
