Brick 3-Family
For Sale
$1,998,000
1140 Willoughby Avenue, Brooklyn, NY 11237
Residential Income, Bushwick East Williamsburg, NY
Property Size5,100 SF
Lot Size0.06 Acres
Price / SF$391.76
Days on Market56
Property Features for 1140 Willoughby Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 7, Bathroom 5, Bedroom 6, Bedroom 9, Bathroom 1, Bedroom 2, Bedroom 8, Bedroom 3, Bathroom 6, Bathroom 7, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 3, Bathroom 2
Subdivision
Bushwick
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1105
Amenities
fully finished basement
landscaped private backyard
Building Details
Year built
2005
Floors in Building
3
Building materials
Brick
Listing Agency:
PRIME AMERICA REAL ESTATE INC
(347) 725-3142
Listed By:
Gobinda Lama · License #10311207567
(718) 975-1107
Added: Jul 31
Changed: Sep 14
Last Checked: Sep 24 at 2:06PM
MLS# 11912885
Copyright © 2026 My State MLS. 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.
Built in 2005, this brick triplex contains approximately 5,100 square feet on a 25' x 100' lot and carries R6 zoning. The 25' x 51' building contains three apartments, each arranged with 3 bedrooms, 2 full bathrooms, a large living room, and high ceilings in the basement. Across the property, the layout totals 15 rooms, 9 bedrooms, and 6 full bathrooms, with abundant natural light throughout.
The finished basement adds flexible interior area and opens directly to a landscaped private backyard. The property is near Maria Hernandez Park and surrounded by restaurants, cafes, art galleries, shopping, and public transportation in Bushwick East Williamsburg.
The finished basement adds flexible interior area and opens directly to a landscaped private backyard. The property is near Maria Hernandez Park and surrounded by restaurants, cafes, art galleries, shopping, and public transportation in Bushwick East Williamsburg.
Key Highlights
- Three‑apartment brick building constructed in 2005
- Approximately 5,100 sq. ft. of interior living space
- 25' x 100' lot with R6 zoning
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
$178,611
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
8.94%
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%
$3,572,220
$3.6M
Cap Rate 7%
$2,551,586
$2.6M
Cap Rate 9%
$1,984,567
$2.0M
Market Conditions
NOI Build-Up for 5,100 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
$260.1K $51.00/SF
− Vacancy
−$4.9K −$0.97/SF
EGI
$255.2K $50.03/SF
− OpEx
−$76.5K −$15.01/SF
NOI
$178.6K $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%
$3,572,220
Cap Rate 7%
$2,551,586
Cap Rate 9%
$1,984,567
Alternative Uses
Best Use
Multifamily LT 5
$2.55M
$2.23M – $2.98M
NOI $178,611 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$2.22M
$1.95M – $2.59M
NOI $155,698 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$4.22M
$3.69M – $4.93M
NOI $295,596 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,288
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Finished lower-level space connects directly to a landscaped private backyard.
Where is this triplex located?
The property is located at 1140 Willoughby Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Three‑apartment brick building constructed in 2005; Approximately 5,100 sq. ft. of interior living space; 25' x 100' lot with R6 zoning
