Semi-Detached Brick
For Sale
$2,200,000
183 Bay 22nd St, Brooklyn, NY 11214
Semi-detached brick 4-family with three 3-bedroom units and one 1-bedroom unit, plus a finished basement with separate entrance.
Property Size3,120 SF
Days on Market36
Property Features for 183 Bay 22nd St
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,055
Amenities
full finished basement
Building Details
Building Size
3,120 SF
Year Built
1923
Stories
2
Construction
semi-detached brick
Tenancy
Multi
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Eric C. Chan
(718) 690-3900
Source:
Elliman
Added: Jul 21
Changed: Aug 15
Last Checked: Aug 24 at 6:33AM
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 Elite
Investment Insights
Based on property information with market context.
Semi-detached brick 4-family home offering three spacious 3-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. The property includes a full finished basement with a separate front entrance, creating additional usable space. Delivery is expected fully vacant at closing.
Located in the Bath Beach area of Brooklyn, the home is close to public transportation, including the D train subway station just minutes away. The property also provides access to the 86th Street shopping district and is near local conveniences such as supermarkets, banks, and restaurants.
The building measures 20’ x 78’ and is configured to accommodate multiple households, with the basement’s separate entrance supporting flexible day-to-day use.
Located in the Bath Beach area of Brooklyn, the home is close to public transportation, including the D train subway station just minutes away. The property also provides access to the 86th Street shopping district and is near local conveniences such as supermarkets, banks, and restaurants.
The building measures 20’ x 78’ and is configured to accommodate multiple households, with the basement’s separate entrance supporting flexible day-to-day use.
Key Highlights
- Semi‑detached brick 4‑family built in 1923 on a 20' x 78' lot
- Unit mix includes three 3‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- Full finished basement with a separate front entrance for added usable space
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
$85,097
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
3.87%
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%
$1,701,940
$1.7M
Cap Rate 7%
$1,215,671
$1.2M
Cap Rate 9%
$945,522
$945.5K
Market Conditions
NOI Build-Up for 3,120 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
$127.3K $40.80/SF
− Vacancy
−$5.7K −$1.84/SF
EGI
$121.6K $38.96/SF
− OpEx
−$36.5K −$11.69/SF
NOI
$85.1K $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%
$1,701,940
Cap Rate 7%
$1,215,671
Cap Rate 9%
$945,522
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.06M – $1.42M
NOI $85,097 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$1.09M
$953.3K – $1.27M
NOI $76,267 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,404 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,286
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 - Semi-detached brick 4-family with three 3-bedroom units and one 1-bedroom unit, plus a finished basement with separate entrance.
Where is this quadplex located?
The property is located at 183 Bay 22nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Semi‑detached brick 4‑family built in 1923 on a 20' x 78' lot; Unit mix includes three 3‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; Full finished basement with a separate front entrance for added usable space
