Three-Family Triplex with
For Sale
$1,999,999
Pending
1149 70th St, Brooklyn, NY 11228
Semi-detached residential property with three apartments, a private driveway, and convenient access to shopping, schools, parks, and transit.
Property Size3,300 SF
Days on Market136
Property Features for 1149 70th St
General Information
Standard status
Pending
Size
3,300 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 2 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,000
Building Details
Building Size
3,300 SF
Buildings
1
Stories
3
Listing Agency:
Ashford Homes LLC
Listed By:
Jian An (Jay) Wang · License #10401274788
(929) 364-1301
Source:
Elliman
Added: Apr 28
Changed: Sep 6
Last Checked: Sep 9 at 8:53AM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
This semi-detached three-family residence at 1149 70th Street is arranged across three apartments. The first-floor unit contains two bedrooms and one bathroom, while the second- and third-floor apartments each offer three bedrooms and one bathroom. A private driveway and garage provide off-street parking and storage.
The property is near shopping along 18th Avenue, local restaurants, schools, parks, and transportation options. Walk Score is 96, Transit Score is 81, and Bike Score is 54, placing everyday services and multiple mobility choices within convenient reach. The three-level configuration provides a clear separation of residential units within one building.
The property is near shopping along 18th Avenue, local restaurants, schools, parks, and transportation options. Walk Score is 96, Transit Score is 81, and Bike Score is 54, placing everyday services and multiple mobility choices within convenient reach. The three-level configuration provides a clear separation of residential units within one building.
Key Highlights
- Three‑family property with three separate apartments
- Unit mix includes one two‑bedroom apartment and two three‑bedroom apartments
- Each apartment has one bathroom
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
$115,572
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
5.78%
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%
$2,311,440
$2.3M
Cap Rate 7%
$1,651,029
$1.7M
Cap Rate 9%
$1,284,133
$1.3M
Market Conditions
NOI Build-Up for 3,300 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
$168.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$165.1K $50.03/SF
− OpEx
−$49.5K −$15.01/SF
NOI
$115.6K $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%
$2,311,440
Cap Rate 7%
$1,651,029
Cap Rate 9%
$1,284,133
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,829
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?
Triplex - Semi-detached residential property with three apartments, a private driveway, and convenient access to shopping, schools, parks, and transit.
Where is this triplex located?
The property is located at 1149 70th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Three‑family property with three separate apartments; Unit mix includes one two‑bedroom apartment and two three‑bedroom apartments; Each apartment has one bathroom
