Sunset Park Multifamily Investment
For Sale
$1,960,000
719 41st St, Brooklyn, NY 11232
Six-family building in Sunset Park with finished basement.
Property Size4,620 SF
Lot Size0.06 Acres
Days on Market273
Property Features for 719 41st St
General Information
Standard status
Active
Size
4,620 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$16,827
Building Details
Building Size
4,620 SF
Year Built
1926
Stories
3
Listing Agency:
RE/MAX Real Estate Professionals
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 24
Last Checked: Aug 26 at 10:34AM
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 RE/MAX Real Estate Professionals
Investment Insights
Based on property information with market context.
Located in Sunset Park, Brooklyn, this semi-detached brick building offers an investment opportunity. The property is a six-family building in excellent condition, featuring a fully finished basement with a separate front entrance. The unit mix includes one one-bedroom apartment, four two-bedroom apartments, and one three-bedroom apartment. The building is situated minutes from 8th Avenue shopping and transit.
Key Highlights
- High Cap Rate (over 6%)
- Free Market Status (all 3 units)
- Prime Location in Sunset Park near 8th Avenue
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
$141,044
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
7.20%
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%
$2,820,880
$2.8M
Cap Rate 7%
$2,014,914
$2.0M
Cap Rate 9%
$1,567,156
$1.6M
Market Conditions
NOI Build-Up for 4,620 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
$261.7K $56.64/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$256.4K $55.51/SF
− OpEx
−$115.4K −$24.98/SF
NOI
$141.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,820,880
Cap Rate 7%
$2,014,914
Cap Rate 9%
$1,567,156
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $141,044 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.83M
$3.35M – $4.46M
NOI $267,775 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,864
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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?
Apartment building - Six-family building in Sunset Park with finished basement.
Where is this apartment building located?
The property is located at 719 41st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: High Cap Rate (over 6%); Free Market Status (all 3 units); Prime Location in Sunset Park near 8th Avenue
