Brick Six-Family Apartment
For Sale
$1,425,000
1253 70th Street, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size3,780 SF
Lot Size0.07 Acres
Price / SF$376.98
Days on Market338
Property Features for 1253 70th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 5, Bedroom 6, Bedroom 1, Bedroom 8, Bedroom 9, Bathroom 4, Bedroom 4, Bathroom 2, Bathroom 6, Bedroom 2
Interior features
Refrigerator, Stove
Subdivision
Bensonhurst
Standard status
Active
Size
3,780 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
19823
Building Details
Year built
1920
Number of units
6
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Shingle
Listing Agency:
Re/Max Real Estate Professiona
(718) 872-5522
Listed By:
Li Juan (Lili) Li
(718) 872-5522
Added: Sep 9, 2025
Changed: Aug 8
Last Checked: Aug 12 at 8:06AM
MLS# 495620
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 semi-detached brick apartment building contains 3 floors and 3780 square feet, with a six-family configuration comprising 9 bedrooms and 6 baths. The property includes two heating zones, tile and hardwood flooring, a shingle roof, and kitchens equipped with refrigerators and stoves. A wide shared driveway leads to the large 2 cars garage. Zoning is R5B.
Set in Dyker Height, the property is close to 13th Ave, a busy shopping area, bus stops, and N& D train stations. Two apartments can be delivered vacant if needed, while 2 tenants are leaving in 2 or 3 years. The property is located at 1253 70th Street in Brooklyn, NY 11228.
Set in Dyker Height, the property is close to 13th Ave, a busy shopping area, bus stops, and N& D train stations. Two apartments can be delivered vacant if needed, while 2 tenants are leaving in 2 or 3 years. The property is located at 1253 70th Street in Brooklyn, NY 11228.
Key Highlights
- 3780‑square‑foot, six‑family apartment building with 9 bedrooms and 6 baths
- Semi‑detached brick construction with 3 floors
- Wide shared driveway and large 2 cars garage
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
$115,399
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
8.10%
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%
$2,307,980
$2.3M
Cap Rate 7%
$1,648,557
$1.6M
Cap Rate 9%
$1,282,211
$1.3M
Market Conditions
NOI Build-Up for 3,780 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
$214.1K $56.64/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$209.8K $55.51/SF
− OpEx
−$94.4K −$24.98/SF
NOI
$115.4K $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%
$2,307,980
Cap Rate 7%
$1,648,557
Cap Rate 9%
$1,282,211
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,399 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.65M
NOI $219,089 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,242
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?
Apartment building - Three-story brick property with a wide shared driveway, two-car garage, and two heating zones.
Where is this apartment building located?
The property is located at 1253 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 3780‑square‑foot, six‑family apartment building with 9 bedrooms and 6 baths; Semi‑detached brick construction with 3 floors; Wide shared driveway and large 2 cars garage
