Brick 3-Family Residential
For Sale
$1,999,000
Pending
1153 71st St, Brooklyn, NY 11228
Three separate apartments, including two 2-bedroom units and one 3-bedroom unit, delivered vacant at closing.
Property Size3,660 SF
Days on Market62
Property Features for 1153 71st St
General Information
Standard status
Pending
Size
3,660 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,458
Building Details
Building Size
3,660 SF
Year Built
1920
Stories
2
Listing Agency:
Brooklyn4U Rltyof DykerHeights
(718) 236-1800
Listed By:
Filomena D'Agnese
(718) 236-1800
Source:
Elliman
Added: Jun 15
Changed: Aug 14
Last Checked: Aug 14 at 8:38AM
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 Brooklyn4U Rltyof DykerHeights
Investment Insights
Based on property information with market context.
This spacious brick 3-family home is configured with two 2-bedroom apartments and one 3-bedroom apartment. Each unit provides its own residential layout within the multifamily structure. A shared driveway leads to two parking spots in the backyard, adding practical off-street parking for residents.
The property is located in Dyker Heights, with proximity to shopping, schools, and transportation. Walk and transit indicators are supportive, with a walk score of 85 and a transit score of 73, and the home is also bikeable with a bike score of 59.
For buyers seeking a multifamily asset, the unit mix offers straightforward leasing options with two smaller apartments and one larger layout. The home is delivered vacant at closing, which may allow an operator to reset occupancy and leasing plans without the need to manage existing tenant transitions.
The property is located in Dyker Heights, with proximity to shopping, schools, and transportation. Walk and transit indicators are supportive, with a walk score of 85 and a transit score of 73, and the home is also bikeable with a bike score of 59.
For buyers seeking a multifamily asset, the unit mix offers straightforward leasing options with two smaller apartments and one larger layout. The home is delivered vacant at closing, which may allow an operator to reset occupancy and leasing plans without the need to manage existing tenant transitions.
Key Highlights
- 3‑family brick home built in 1920 with two 2‑bedroom apartments and one 3‑bedroom apartment
- All three units delivered vacant at closing
- Two 2‑bedroom units plus one 3‑bedroom unit for flexible tenant mix
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
$128,179
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
6.41%
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%
$2,563,580
$2.6M
Cap Rate 7%
$1,831,129
$1.8M
Cap Rate 9%
$1,424,211
$1.4M
Market Conditions
NOI Build-Up for 3,660 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
$186.7K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$183.1K $50.03/SF
− OpEx
−$54.9K −$15.01/SF
NOI
$128.2K $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%
$2,563,580
Cap Rate 7%
$1,831,129
Cap Rate 9%
$1,424,211
Alternative Uses
Best Use
Multifamily LT 5
$1.83M
$1.60M – $2.14M
NOI $128,179 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.86M
NOI $111,736 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$3.03M
$2.65M – $3.54M
NOI $212,134 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments, including two 2-bedroom units and one 3-bedroom unit, delivered vacant at closing.
Where is this triplex located?
The property is located at 1153 71st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 3‑family brick home built in 1920 with two 2‑bedroom apartments and one 3‑bedroom apartment; All three units delivered vacant at closing; Two 2‑bedroom units plus one 3‑bedroom unit for flexible tenant mix
