Three-Story Brick Apartment
For Sale
$1,670,000
1312 66th Street, Brooklyn, NY 11219
Legal six-family property with a mix of one- and two-bedroom apartments, R6B zoning, and updated water-heating equipment.
Property Size4,200 SF
Lot Size0.05 Acres
Price / SF$397.62
Days on Market46
Property Features for 1312 66th Street
General Information
Standard status
Active
Size
4,200 SF
Lot size
0.05 Acres
Property subtype
Commercial
Zoning
R6B
Units
Unit Mix
5 x 2BR, 1 x 1BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,473
Building Details
Building Size
4,200 SF
Year Built
1931
Buildings
1
Stories
3
Units
6
Construction
brick
Listing Agency:
EXP Realty
(917) 807-4088
Listed By:
Rong Xu Yu
(917) 807-4088
Source:
Cornerstonemyhome
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This legal six-family apartment property is a north-facing, three-story brick building constructed in 1931. The 4,200-square-foot structure contains five two-bedroom apartments and one one-bedroom apartment. Four units are vacant and two are occupied. The roof is reported in great condition, the boiler is operating without issues, and a new water heater has been installed.
The property occupies a 20 X 100 lot, with a 20 X 70 building footprint. R6B zoning applies. The 62nd Street station serving the D train is approximately a five-minute walk away. The building has no reported HPD or DOB violations, and the source information notes no tenant issues.
The property occupies a 20 X 100 lot, with a 20 X 70 building footprint. R6B zoning applies. The 62nd Street station serving the D train is approximately a five-minute walk away. The building has no reported HPD or DOB violations, and the source information notes no tenant issues.
Key Highlights
- Legal 6 family property with five 2‑Bedroom units and one 1‑Bedroom unit
- 4 vacant units and 2 occupied units
- 4,200 sqft building on a 20 X 100 lot
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
$108,879
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
6.52%
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%
$2,177,580
$2.2M
Cap Rate 7%
$1,555,414
$1.6M
Cap Rate 9%
$1,209,767
$1.2M
Market Conditions
NOI Build-Up for 4,200 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
$206.6K $49.20/SF
− Vacancy
−$8.7K −$2.07/SF
EGI
$198.0K $47.13/SF
− OpEx
−$89.1K −$21.21/SF
NOI
$108.9K $25.92/SF
Area
ZIP 11219
Vacancy
4.20%
Lease Rate
$49.20 /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%
$2,177,580
Cap Rate 7%
$1,555,414
Cap Rate 9%
$1,209,767
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.81M
NOI $108,879 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,593 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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?
Apartment building - Legal six-family property with a mix of one- and two-bedroom apartments, R6B zoning, and updated water-heating equipment.
Where is this apartment building located?
The property is located at 1312 66th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: Legal 6 family property with five 2‑Bedroom units and one 1‑Bedroom unit; 4 vacant units and 2 occupied units; 4,200 sqft building on a 20 X 100 lot
