Brick Multifamily Building with
For Sale
$2,250,000
1144 71st Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,436 SF
Lot Size0.06 Acres
Price / SF$923.65
Days on Market200
Property Features for 1144 71st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 5, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 2
Interior features
A/C Unit - Wall, A/C Unit - Window, Alarm, Central Air, Dishwasher, Dryer, Garage Door Opener(s), Laundry Area, Microwave, Refrigerator, Stove
Subdivision
Dyker Heights
Standard status
Active
Size
2,436 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
16000
Building Details
Year built
1928
Floors in Building
3
Number of units
4
Flooring type
Ceramic, Hardwood, Tile, Granite
Building materials
Brick
Roof type
Flat
Listing Agency:
Compass Realty Central Inc.
Listed By:
Lisa A. Chierchio
(718) 232-6400
Added: Mar 16
Changed: Sep 15
Last Checked: Oct 1 at 4:06PM
MLS# 499661
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 2,436-square-foot brick multifamily property was built in 1928 and occupies a 0.0585-acre lot in Brooklyn’s Dyker Heights neighborhood. The first-floor residence includes two bedrooms, one full bathroom, oak flooring, central air conditioning, radiant heat, and a custom kitchen following a full renovation. The second floor contains two separate apartments, each with one bedroom and one bathroom.
A detached two-car garage provides on-site parking and additional functional space. Interior features include a dishwasher, dryer, microwave, refrigerator, stove, laundry area, alarm, and garage door opener. The property is zoned R5B and is located near shopping, dining, parks, and transportation.
A detached two-car garage provides on-site parking and additional functional space. Interior features include a dishwasher, dryer, microwave, refrigerator, stove, laundry area, alarm, and garage door opener. The property is zoned R5B and is located near shopping, dining, parks, and transportation.
Key Highlights
- 2,436‑square‑foot brick multifamily property on a 0.0585‑acre lot
- Detached two‑car garage with garage door opener
- First‑floor residence renovated with custom kitchen, central air, radiant heat, and oak flooring
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
$85,313
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
3.79%
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%
$1,706,260
$1.7M
Cap Rate 7%
$1,218,757
$1.2M
Cap Rate 9%
$947,922
$947.9K
Market Conditions
NOI Build-Up for 2,436 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
$124.2K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$121.9K $50.03/SF
− OpEx
−$36.6K −$15.01/SF
NOI
$85.3K $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%
$1,706,260
Cap Rate 7%
$1,218,757
Cap Rate 9%
$947,922
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,313 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$1.06M
$929.6K – $1.24M
NOI $74,369 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$2.02M
$1.76M – $2.35M
NOI $141,191 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick multifamily property with a detached garage, renovated first-floor residence, and additional apartments in Dyker Heights.
Where is this quadplex located?
The property is located at 1144 71st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 2,436‑square‑foot brick multifamily property on a 0.0585‑acre lot; Detached two‑car garage with garage door opener; First‑floor residence renovated with custom kitchen, central air, radiant heat, and oak flooring
