Triplex-Style Multi-Family
For Sale
$1,580,000
8674 16th Ave, Brooklyn, NY 11214
Well-maintained Brooklyn income property configured as three units with upgraded electrical services and private front parking.
Property Size2,400 SF
Days on Market117
Property Features for 8674 16th Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,163
Building Details
Building Size
2,400 SF
Year Built
1960
Stories
2
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
XiaoMei(May) He · License #10401313430
(718) 612-3088
Source:
Elliman
Added: Apr 28
Changed: Aug 22
Last Checked: Aug 22 at 10:08AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
Welcome to 8674 16th Ave, a well-maintained multi-family property in Brooklyn, configured as a 2-family home and currently set up for use as 3 units. The layout provides flexible living arrangements and is designed for those seeking income-producing functionality.
The property includes upgraded electrical services. A private front parking area is available for convenient off-street parking. The home is located near shopping along 86th Street, a variety of restaurants, and public transportation options.
The house will be delivered vacant at closing. All offers will be presented.
The property includes upgraded electrical services. A private front parking area is available for convenient off-street parking. The home is located near shopping along 86th Street, a variety of restaurants, and public transportation options.
The house will be delivered vacant at closing. All offers will be presented.
Key Highlights
- 2‑family home built in 1960, currently set up for use as 3 units for flexible living or income use
- Upgraded electrical services reported, providing added efficiency and long‑term reliability
- Private front parking for convenient off‑street parking
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
$65,460
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
4.14%
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%
$1,309,200
$1.3M
Cap Rate 7%
$935,143
$935.1K
Cap Rate 9%
$727,333
$727.3K
Market Conditions
NOI Build-Up for 2,400 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
$97.9K $40.80/SF
− Vacancy
−$4.4K −$1.84/SF
EGI
$93.5K $38.96/SF
− OpEx
−$28.1K −$11.69/SF
NOI
$65.5K $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%
$1,309,200
Cap Rate 7%
$935,143
Cap Rate 9%
$727,333
Alternative Uses
Best Use
Multifamily LT 5
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,003 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,677
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?
Triplex - Well-maintained Brooklyn income property configured as three units with upgraded electrical services and private front parking.
Where is this triplex located?
The property is located at 8674 16th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: 2‑family home built in 1960, currently set up for use as 3 units for flexible living or income use; Upgraded electrical services reported, providing added efficiency and long‑term reliability; Private front parking for convenient off‑street parking
