Vacant 4-Unit Residential
For Sale
$2,100,000
1118 71st St, Brooklyn, NY 11228
Separate apartments include one- and two-bedroom layouts, a legal basement residence, shared parking access, and storage space.
Property Size2,358 SF
Days on Market14
Property Features for 1118 71st St
General Information
Standard status
Active
Size
2,358 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,931
Building Details
Building Size
2,358 SF
Buildings
1
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Carmela DiSilvio Gallotta
(718) 612-3088
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 30 at 10:01PM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This semi-attached four-family residence is arranged across multiple levels with a mix of apartment layouts. The top floor contains two separate units: a front one-bedroom apartment and a rear two-bedroom apartment. A full-length first-floor residence includes living and dining rooms, an eat-in kitchen, and two bedrooms. The legal basement apartment provides an additional one-bedroom layout. The property will be delivered vacant.
Site features include a shared driveway, detached parking garage, and a spacious storage shed. The residence is located in Dyker Heights at 1118 71st St, Brooklyn, NY 11228, with shopping and transportation nearby. WalkScore is 92, TransitScore is 80, and BikeScore is 55.
Site features include a shared driveway, detached parking garage, and a spacious storage shed. The residence is located in Dyker Heights at 1118 71st St, Brooklyn, NY 11228, with shopping and transportation nearby. WalkScore is 92, TransitScore is 80, and BikeScore is 55.
Key Highlights
- Four‑family semi‑attached residential property delivered vacant
- Top floor includes separate one‑bedroom and two‑bedroom apartments
- First‑floor apartment has living and dining rooms, eat‑in kitchen, and two bedrooms
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
$82,581
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
3.93%
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%
$1,651,620
$1.7M
Cap Rate 7%
$1,179,729
$1.2M
Cap Rate 9%
$917,567
$917.6K
Market Conditions
NOI Build-Up for 2,358 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
$120.3K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.0K $50.03/SF
− OpEx
−$35.4K −$15.01/SF
NOI
$82.6K $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%
$1,651,620
Cap Rate 7%
$1,179,729
Cap Rate 9%
$917,567
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,581 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$1.03M
$899.8K – $1.20M
NOI $71,987 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,670 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Separate apartments include one- and two-bedroom layouts, a legal basement residence, shared parking access, and storage space.
Where is this quadplex located?
The property is located at 1118 71st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Four‑family semi‑attached residential property delivered vacant; Top floor includes separate one‑bedroom and two‑bedroom apartments; First‑floor apartment has living and dining rooms, eat‑in kitchen, and two bedrooms
