Brick Four-Family Income
For Sale
$2,300,000
6724 21st Ave, Brooklyn, NY 11204
Well-maintained 1931 brick quadplex with four apartments, a finished basement, and private driveway parking for two vehicles.
Property Size3,280 SF
Days on Market86
Property Features for 6724 21st Ave
General Information
Standard status
Active
Size
3,280 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$15,145
Building Details
Building Size
3,280 SF
Year Built
1931
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Susana Chen Chong
(917) 708-9966
Source:
Elliman
Added: Jun 3
Changed: Aug 22
Last Checked: Aug 26 at 10:37AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Introducing 6724 21st Avenue, a well-maintained brick four-family semi-detached building built in 1931. The property offers four residential units, each with dedicated living space and 1 full bathroom, ranging from two-bedroom layouts in the 1F and 1R units to three-bedroom layouts in the 2F and 2R units. A fully finished basement provides additional usable space, and the building is supported by a private driveway with parking for two vehicles.
Located in Bensonhurst, the property is described as convenient to shopping, restaurants, schools, parks, and public transportation.
This four-family configuration is designed for straightforward income generation, with unit mix spanning two- and three-bedroom apartments and an expanded basement footprint.
Located in Bensonhurst, the property is described as convenient to shopping, restaurants, schools, parks, and public transportation.
This four-family configuration is designed for straightforward income generation, with unit mix spanning two- and three-bedroom apartments and an expanded basement footprint.
Key Highlights
- 1931 brick semi‑detached four‑family building with four apartments plus a fully finished basement
- Four spacious units: two 2BR/1BA apartments and two 3BR/1BA apartments
- Private driveway with parking for 2 vehicles
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
$114,871
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
4.99%
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%
$2,297,420
$2.3M
Cap Rate 7%
$1,641,014
$1.6M
Cap Rate 9%
$1,276,344
$1.3M
Market Conditions
NOI Build-Up for 3,280 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
$167.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.1K $50.03/SF
− OpEx
−$49.2K −$15.01/SF
NOI
$114.9K $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%
$2,297,420
Cap Rate 7%
$1,641,014
Cap Rate 9%
$1,276,344
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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 - Well-maintained 1931 brick quadplex with four apartments, a finished basement, and private driveway parking for two vehicles.
Where is this quadplex located?
The property is located at 6724 21st Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1931 brick semi‑detached four‑family building with four apartments plus a fully finished basement; Four spacious units: two 2BR/1BA apartments and two 3BR/1BA apartments; Private driveway with parking for 2 vehicles
