Bensonhurst Four-Family
For Sale
$1,999,999
Pending
1687 83rd St, Brooklyn, NY 11214
Well-maintained four-family home in the heart of Bensonhurst.
Property Size3,198 SF
Lot Size0.08 Acres
Days on Market259
Property Features for 1687 83rd St
General Information
Standard status
Pending
Size
3,198 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$15,195
Building Details
Building Size
3,198 SF
Year Built
1931
Stories
2
Listing Agency:
(718) 612-3088
Listed By:
Frank J. Bergen
(718) 612-3088
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:36AM
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 Frank J. Bergen
Investment Insights
Based on property information with market context.
This well-maintained four-family home is located in the heart of Bensonhurst. The solid brick property features three 2-bedroom apartments and one 3-bedroom unit. A fully finished basement offers additional storage space. The building measures 21x78 and sits on an oversized 28x120 lot. The property is conveniently located close to local transportation, schools, parks, and a variety of shopping and dining options. This multi-family property offers the potential to generate strong rental income.
Key Highlights
- Four‑family home in the heart of desirable Bensonhurst, Brooklyn.
- Features three 2‑bedroom apartments and one large 3‑bedroom unit.
- Solid brick construction on an oversized 28x120 lot.
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
$87,225
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
4.36%
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%
$1,744,500
$1.7M
Cap Rate 7%
$1,246,071
$1.2M
Cap Rate 9%
$969,167
$969.2K
Market Conditions
NOI Build-Up for 3,198 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
$130.5K $40.80/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$124.6K $38.96/SF
− OpEx
−$37.4K −$11.69/SF
NOI
$87.2K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,744,500
Cap Rate 7%
$1,246,071
Cap Rate 9%
$969,167
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.45M
NOI $87,225 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$1.12M
$977.2K – $1.30M
NOI $78,173 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,589 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,872
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Quadplex - Well-maintained four-family home in the heart of Bensonhurst.
Where is this quadplex located?
The property is located at 1687 83rd 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: Four‑family home in the heart of desirable Bensonhurst, Brooklyn.; Features three 2‑bedroom apartments and one large 3‑bedroom unit.; Solid brick construction on an oversized 28x120 lot.
