Sunset Park Six-Family Brick
For Sale
$2,800,000
827 49th St, Brooklyn, NY 11220
Well-maintained six-unit building with development potential in Sunset Park.
Property Size5,280 SF
Lot Size0.07 Acres
Days on Market104
Property Features for 827 49th St
General Information
Standard status
Active
Size
5,280 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$19,903
Building Details
Building Size
5,280 SF
Year Built
1926
Stories
3
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Kelly Wu
(718) 612-3088
Source:
Elliman
Added: May 15
Changed: Aug 12
Last Checked: Aug 25 at 7:29AM
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 Edge
Investment Insights
Based on property information with market context.
Located in the heart of Sunset Park, this semi-detached brick house features six residential units. The building is in excellent condition and offers spacious units with flexible 2-bedroom layouts. Each unit includes one bathroom, with an additional bathroom located in the full, finished basement. The building size is 22x80 on a 30x100 lot. Zoned R6, the property has a Residential FAR of 2.2, a Facility FAR of 4.8, and a current FAR of 1.76, offering future development potential. The approximate maximum buildable area is 6,611 sq. ft. for residential use and up to 14,424 sq. ft. for community facility use. The property includes separate utility meters and a private driveway with multiple parking spaces. The location is near major shopping corridors, restaurants, and schools, with convenient access to public transportation via the B11 and B70 buses, as well as the D, N, and Q trains. The bike score is 76, indicating it is very bikeable, the walk score is 95, indicating it is a walker's paradise, and the transit score is 95, indicating it is a rider's paradise. This property presents an opportunity for investors, developers, or end users seeking rental income and long-term upside.
Key Highlights
- Rare 6‑family brick building in Sunset Park.
- High walk and transit scores (95), bike score of 76, near transportation, shopping, and restaurants.
- Significant future development potential with R6 zoning and FAR allowing for residential or community facility expansion.
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
$140,800
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
5.03%
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%
$2,816,000
$2.8M
Cap Rate 7%
$2,011,429
$2.0M
Cap Rate 9%
$1,564,444
$1.6M
Market Conditions
NOI Build-Up for 5,280 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
$266.1K $50.40/SF
− Vacancy
−$10.1K −$1.92/SF
EGI
$256.0K $48.48/SF
− OpEx
−$115.2K −$21.82/SF
NOI
$140.8K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$2,816,000
Cap Rate 7%
$2,011,429
Cap Rate 9%
$1,564,444
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $140,800 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$3.00M – $3.99M
NOI $239,602 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Well-maintained six-unit building with development potential in Sunset Park.
Where is this apartment building located?
The property is located at 827 49th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Rare 6‑family brick building in Sunset Park.; High walk and transit scores (95), bike score of 76, near transportation, shopping, and restaurants.; Significant future development potential with R6 zoning and FAR allowing for residential or community facility expansion.
