Brick Quadplex With Detached
For Sale
$2,100,000
1118 71st Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,358 SF
Lot Size0.05 Acres
Price / SF$890.59
Days on Market15
Property Features for 1118 71st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 3
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, Central Air - Split, Garage Door Opener(s), Laundry Area, Refrigerator, Stove
Basement
Finished
Subdivision
Dyker Heights
Standard status
Active
Size
2,358 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
14931
Amenities
detached parking garage
storage shed
Building Details
Floors in Building
2
Number of units
4
Flooring type
Ceramic, Carpet, Linoleum, Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Carmela DiSilvio Gallotta
(718) 612-3088
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 8:06AM
MLS# 503857
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 four-family, semi-attached brick property contains a varied residential configuration across its floors. The upper level includes two separate apartments: a one-bedroom unit at the front and a two-bedroom unit at the rear. A full-width first-floor apartment provides living and dining rooms, an eat-in kitchen, and two bedrooms. The legal basement apartment adds another one-bedroom residence. The building will be delivered vacant.
Site improvements include a shared driveway, detached parking garage, and a spacious storage shed. Interior features include wall-mounted A/C, split-system central air, a laundry area, refrigerator, stove, and a mix of tile, ceramic, hardwood, linoleum, and carpet flooring. The property is located in Dyker Heights with access to shopping and transportation.
Site improvements include a shared driveway, detached parking garage, and a spacious storage shed. Interior features include wall-mounted A/C, split-system central air, a laundry area, refrigerator, stove, and a mix of tile, ceramic, hardwood, linoleum, and carpet flooring. The property is located in Dyker Heights with access to shopping and transportation.
Key Highlights
- Four‑family semi‑attached brick property delivered vacant
- Two upper‑floor apartments: one one‑bedroom and one two‑bedroom
- First‑floor apartment includes living and dining rooms, eat‑in kitchen, and two bedrooms
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
$82,581
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
3.93%
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%
$1,651,620
$1.7M
Cap Rate 7%
$1,179,729
$1.2M
Cap Rate 9%
$917,567
$917.6K
Market Conditions
NOI Build-Up for 2,358 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
$120.3K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.0K $50.03/SF
− OpEx
−$35.4K −$15.01/SF
NOI
$82.6K $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%
$1,651,620
Cap Rate 7%
$1,179,729
Cap Rate 9%
$917,567
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,581 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$1.03M
$899.8K – $1.20M
NOI $71,987 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,670 @ 7.0% cap · market cap 6.51%
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
3,167
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?
Quadplex - Vacant four-family property with varied apartment layouts, shared driveway parking, storage space, and access to shopping and transportation.
Where is this quadplex located?
The property is located at 1118 71st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Four‑family semi‑attached brick property delivered vacant; Two upper‑floor apartments: one one‑bedroom and one two‑bedroom; First‑floor apartment includes living and dining rooms, eat‑in kitchen, and two bedrooms
