Four-Family Residential Income
For Sale
$1,788,000
1640 Bath Ave, Brooklyn, NY 11214
Vacant four-family building with a mix of 1- and 2-bedroom units and a private driveway with two parking spaces.
Property Size3,237 SF
Days on Market117
Property Features for 1640 Bath Ave
General Information
Standard status
Active
Size
3,237 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,747
Building Details
Building Size
3,237 SF
Year Built
1926
Stories
3
Listing Agency:
RE/MAX Real Estates Professionals
(718) 532-2000
Listed By:
Vito Angelo · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Apr 28
Changed: Aug 12
Last Checked: Aug 21 at 9:55AM
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 vacant four-family residential income building features four levels with a unit mix of 2-bedroom and 1-bedroom over 2-bedroom, plus an additional spacious 2-bedroom. The property also includes an extra-large backyard and a private driveway offering two off-street parking spaces.
Located on Bath Avenue in Bath Beach, the surrounding area reflects strong walkability and transit accessibility based on available bike/walk/transit scores (BikeScore 59, WalkScore 85, TransitScore 73).
For buyers seeking a straightforward four-unit setup, the building’s configuration provides a consistent residential income product across the three-story layout, with outdoor space and parking that support day-to-day usability for tenants.
Located on Bath Avenue in Bath Beach, the surrounding area reflects strong walkability and transit accessibility based on available bike/walk/transit scores (BikeScore 59, WalkScore 85, TransitScore 73).
For buyers seeking a straightforward four-unit setup, the building’s configuration provides a consistent residential income product across the three-story layout, with outdoor space and parking that support day-to-day usability for tenants.
Key Highlights
- Vacant 3‑story, 4‑family building on Bath Avenue in Bath Beach (built 1926).
- Unit mix includes 1- and 2‑bedroom apartments, including a 2BR/1BR‑over‑2BR layout and a spacious 2‑bedroom unit.
- Extra‑large backyard with a private 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
$88,289
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
4.94%
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%
$1,765,780
$1.8M
Cap Rate 7%
$1,261,271
$1.3M
Cap Rate 9%
$980,989
$981.0K
Market Conditions
NOI Build-Up for 3,237 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
$132.1K $40.80/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$126.1K $38.96/SF
− OpEx
−$37.8K −$11.69/SF
NOI
$88.3K $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%
$1,765,780
Cap Rate 7%
$1,261,271
Cap Rate 9%
$980,989
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,289 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$1.13M
$989.1K – $1.32M
NOI $79,127 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,181 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,607
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 - Vacant four-family building with a mix of 1- and 2-bedroom units and a private driveway with two parking spaces.
Where is this quadplex located?
The property is located at 1640 Bath Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,788,000.
What are key features of this property?
This property features: Vacant 3‑story, 4‑family building on Bath Avenue in Bath Beach (built 1926).; Unit mix includes 1- and 2‑bedroom apartments, including a 2BR/1BR‑over‑2BR layout and a spacious 2‑bedroom unit.; Extra‑large backyard with a private driveway.
