Two-Building Brick Multifamily
For Sale
$4,950,000
1871 W 13th St, Brooklyn, NY 11223
Two solid-brick buildings with 10 total units, fully occupied, offering a turnkey multifamily acquisition in Gravesend.
Property Size4,140 SF
Days on Market68
Property Features for 1871 W 13th St
General Information
Standard status
Active
Size
4,140 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$21,352
Building Details
Building Size
4,140 SF
Year Built
1930
Stories
3
Listing Agency:
RE/MAX Real Estates Professionals
(718) 532-2000
Listed By:
Vito Angelo · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Jun 20
Changed: Aug 14
Last Checked: Aug 25 at 10:03AM
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 Estates Professionals
Investment Insights
Based on property information with market context.
This package presents two solid-brick multifamily buildings offered side-by-side on a quiet, tree-lined block in Gravesend. The properties include one 4-family building and one 6-family building, for a total of 10 residential units. Both buildings are described as well-maintained and fully occupied, with spacious layouts and strong natural light.
The offering is positioned close to everyday shopping, restaurants, and schools, with multiple transportation options nearby. Public transit access is highlighted through the N and F subway lines, supporting convenient commuting for residents.
For buyers seeking a turnkey rental asset, this two-building configuration provides a diversified unit mix across a 4-family and a 6-family property under one purchase. It is being presented as an income-producing investment with a consistent long-term tenancy profile, with all details subject to buyer verification.
The offering is positioned close to everyday shopping, restaurants, and schools, with multiple transportation options nearby. Public transit access is highlighted through the N and F subway lines, supporting convenient commuting for residents.
For buyers seeking a turnkey rental asset, this two-building configuration provides a diversified unit mix across a 4-family and a 6-family property under one purchase. It is being presented as an income-producing investment with a consistent long-term tenancy profile, with all details subject to buyer verification.
Key Highlights
- Package deal: 1871 and 1875 West 13th Street on a quiet, tree‑lined block
- Two solid‑brick multifamily buildings with a total of 10 residential units (4‑family and 6‑family)
- Both buildings are well‑maintained and fully occupied with strong rental income
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
$144,990
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
2.93%
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%
$2,899,800
$2.9M
Cap Rate 7%
$2,071,286
$2.1M
Cap Rate 9%
$1,611,000
$1.6M
Market Conditions
NOI Build-Up for 4,140 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
$211.1K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$207.1K $50.03/SF
− OpEx
−$62.1K −$15.01/SF
NOI
$145.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,899,800
Cap Rate 7%
$2,071,286
Cap Rate 9%
$1,611,000
Alternative Uses
Best Use
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $144,990 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,390 @ 7.0% cap · market cap 2.55%
Theoretical Best
Specialty Retail
$3.43M
$3.00M – $4.00M
NOI $239,954 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 - Two solid-brick buildings with 10 total units, fully occupied, offering a turnkey multifamily acquisition in Gravesend.
Where is this apartment building located?
The property is located at 1871 W 13th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Package deal: 1871 and 1875 West 13th Street on a quiet, tree‑lined block; Two solid‑brick multifamily buildings with a total of 10 residential units (4‑family and 6‑family); Both buildings are well‑maintained and fully occupied with strong rental income
