Six-Family Brick Apartment
For Sale
$1,425,000
1253 70th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size3,780 SF
Lot Size0.07 Acres
Price / SF$376.98
Days on Market348
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
Bathroom 6, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 5, Bedroom 9, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
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 20
Last Checked: Aug 22 at 4:06AM
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 three-story brick apartment building contains six families within 3,780 square feet. The property includes 9 bedrooms, 6 bathrooms, two heating zones, and a large two-car garage accessed by a wide shared driveway. Interior features include refrigerators and stoves, with tile and hardwood flooring throughout the apartments. The building was constructed in 1920 and has a shingle roof on a 0.0689-acre lot.
Located on 70th Street in Brooklyn, the property is near 13th Avenue, a shopping area, bus stops, and N and D train stations. Two apartments may be delivered vacant if needed, while two tenants are expected to leave in 2 or 3 years. R5B zoning supports the property's multifamily classification.
Located on 70th Street in Brooklyn, the property is near 13th Avenue, a shopping area, bus stops, and N and D train stations. Two apartments may be delivered vacant if needed, while two tenants are expected to leave in 2 or 3 years. R5B zoning supports the property's multifamily classification.
Key Highlights
- Six‑family brick apartment building with 3,780 square feet
- 9 bedrooms, 6 bathrooms, and two heating zones
- Large two‑car garage with a wide shared driveway
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 multifamily property with a two-car garage, shared driveway, and potential for two vacant apartments.
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: Six‑family brick apartment building with 3,780 square feet; 9 bedrooms, 6 bathrooms, and two heating zones; Large two‑car garage with a wide shared driveway
