Brick Three-Family Home with Private
For Sale
$1,899,000
Pending
1649 W 6th St, Brooklyn, NY 11223
Well-maintained three-family brick residence with modern kitchens and baths, rear yard, patios, and a private driveway with garage.
Property Size3,220 SF
Lot Size0.05 Acres
Days on Market126
Property Features for 1649 W 6th St
General Information
Standard status
Pending
Size
3,220 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,317
Amenities
rear yard
front patio
rear patio
Building Details
Building Size
3,220 SF
Year Built
1960
Stories
3
Construction
brick
Listing Agency:
Accord Real Estate Group
Listed By:
Jeff Grandis
(917) 804-3198
Source:
Elliman
Added: May 9
Changed: Aug 26
Last Checked: Sep 10 at 8:39AM
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 Accord Real Estate Group
Investment Insights
Based on property information with market context.
This brick three-family home is described as being in excellent condition and offering a total of six rooms across each of three units, with three bedrooms and one full bath per unit. The property includes modern kitchens and bathrooms, plus a large rear yard, front and rear patios, and a private driveway. A one-car garage is provided, along with room for an additional vehicle in the driveway.
The home is located in Brooklyn, and the provided remarks indicate convenient subway service via the F train (one avenue U) and the N train located on Kings Highway.
Overall, the layout is straightforward: three separate residential units with bedroom and bath counts clearly identified in the listing, supported by outdoor space and off-street parking.
The home is located in Brooklyn, and the provided remarks indicate convenient subway service via the F train (one avenue U) and the N train located on Kings Highway.
Overall, the layout is straightforward: three separate residential units with bedroom and bath counts clearly identified in the listing, supported by outdoor space and off-street parking.
Key Highlights
- 3‑family brick house built in 1960 with 3,220 SF total living space
- Modern kitchens and baths across the three units
- Unit layout: six rooms/three bedrooms/1 full bath; six rooms/three bedrooms/1 full bath; three rooms/one bedroom/1 full bath
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
$112,770
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
5.94%
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%
$2,255,400
$2.3M
Cap Rate 7%
$1,611,000
$1.6M
Cap Rate 9%
$1,253,000
$1.3M
Market Conditions
NOI Build-Up for 3,220 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
$164.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$161.1K $50.03/SF
− OpEx
−$48.3K −$15.01/SF
NOI
$112.8K $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%
$2,255,400
Cap Rate 7%
$1,611,000
Cap Rate 9%
$1,253,000
Alternative Uses
Best Use
Multifamily LT 5
$1.61M
$1.41M – $1.88M
NOI $112,770 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,303 @ 7.0% cap · market cap 5.18%
Theoretical Best
Specialty Retail
$2.67M
$2.33M – $3.11M
NOI $186,631 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,939
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-family brick residence with modern kitchens and baths, rear yard, patios, and a private driveway with garage.
Where is this triplex located?
The property is located at 1649 W 6th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 3‑family brick house built in 1960 with 3,220 SF total living space; Modern kitchens and baths across the three units; Unit layout: six rooms/three bedrooms/1 full bath; six rooms/three bedrooms/1 full bath; three rooms/one bedroom/1 full bath
