Brick Multi-Family
For Sale
$1,378,000
1278 E 70th St, Brooklyn, NY 11234
Semi-detached brick multifamily property with three duplex apartments, private balconies, and a fully finished basement with separate entrances.
Property Size3,784 SF
Days on Market54
Property Features for 1278 E 70th St
General Information
Standard status
Active
Size
3,784 SF
Total Parking Spaces
2
Property subtype
Multi Family
Amenities
private balconies
recreation room
large backyard
ample storage
Building Details
Building Size
3,784 SF
Year Built
1975
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Talk of the Town Realty Corp.
(718) 251-7400
Listed By:
Keren Shalmoni
(718) 251-7400
Source:
Elliman
Added: Jul 8
Changed: Aug 26
Last Checked: Aug 29 at 2:35PM
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 Talk of the Town Realty Corp.
Investment Insights
Based on property information with market context.
This semi-detached brick multi-family home offers three residential units configured as duplex-style apartments. The top floor features a large 3-bedroom layout with 2 bathrooms. The middle floor includes a 5-bedroom duplex configuration with 3 bathrooms, two kitchens, and access to a lower level through a separate side entrance, along with a fully finished basement that also has a separate entrance. Additional living space includes a recreation room and ample storage, and the unit interiors are described as move-in condition with wood floors, plus updated kitchens and bathrooms.
The property includes private balconies on each residential level, parking for two vehicles, and a large backyard. The basement is noted as vacant, and the new owner is required to purchase with the current tenants in place; all tenants are paying. It is described as conveniently located minutes from the Georgetown Shopping Center, with nearby transportation, schools, and parks.
The property includes private balconies on each residential level, parking for two vehicles, and a large backyard. The basement is noted as vacant, and the new owner is required to purchase with the current tenants in place; all tenants are paying. It is described as conveniently located minutes from the Georgetown Shopping Center, with nearby transportation, schools, and parks.
Key Highlights
- 1975 semi‑detached brick multifamily home with three duplex apartments
- Top floor: large 3‑bedroom duplex with 2 bathrooms
- Middle floor: 5‑bedroom duplex with 3 bathrooms, 2 kitchens, and a side entrance
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
$115,522
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
8.38%
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%
$2,310,440
$2.3M
Cap Rate 7%
$1,650,314
$1.7M
Cap Rate 9%
$1,283,578
$1.3M
Market Conditions
NOI Build-Up for 3,784 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
$214.3K $56.64/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$210.0K $55.51/SF
− OpEx
−$94.5K −$24.98/SF
NOI
$115.5K $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%
$2,310,440
Cap Rate 7%
$1,650,314
Cap Rate 9%
$1,283,578
Alternative Uses
Best Use
Multifamily LT 5
$1.89M
$1.66M – $2.21M
NOI $132,522 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$1.65M
$1.44M – $1.93M
NOI $115,522 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.66M
NOI $219,321 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Semi-detached brick multifamily property with three duplex apartments, private balconies, and a fully finished basement with separate entrances.
Where is this triplex located?
The property is located at 1278 E 70th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,378,000.
What are key features of this property?
This property features: 1975 semi‑detached brick multifamily home with three duplex apartments; Top floor: large 3‑bedroom duplex with 2 bathrooms; Middle floor: 5‑bedroom duplex with 3 bathrooms, 2 kitchens, and a side entrance
