Three-Unit Multifamily
For Sale
$1,375,000
1166 Bergen Ave, Brooklyn, NY 11234
Two upper apartments provide three bedrooms and one-and-a-half baths, complemented by a separate one-bedroom garden-level unit.
Property Size3,146 SF
Days on Market10
Property Features for 1166 Bergen Ave
General Information
Standard status
Active
Size
3,146 SF
Total Parking Spaces
1
Property subtype
Investment
Units
Unit Mix
2 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,984
Amenities
Private backyard
Deck
Above-ground pool
Full unfinished basement
Landscaped grounds
Natural gas heating
Building Details
Building Size
3,146 SF
Year Built
1970
Buildings
1
Units
3
Listing Agency:
Real Broker NY LLC
Listed By:
Domenic Brocco
(516) 457-6192
Source:
Elliman
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 26 at 12:06PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
Located at 1166 Bergen Avenue in Brooklyn, this 1970-built triplex contains two upper apartments with three bedrooms and 1.5 bathrooms each, plus a ground-level one-bedroom, one-bath apartment. The property also includes an unfinished full basement and a one-car attached garage. Natural gas heating has been serviced and inspected.
Outdoor features include landscaped grounds, a private backyard, a deck, and a new above-ground pool. The property is in Bergen Beach, with parks, shopping, dining, and transportation nearby. Walk Score is 93, Transit Score is 79, and Bike Score is 58.
Outdoor features include landscaped grounds, a private backyard, a deck, and a new above-ground pool. The property is in Bergen Beach, with parks, shopping, dining, and transportation nearby. Walk Score is 93, Transit Score is 79, and Bike Score is 58.
Key Highlights
- Three‑unit configuration with two 3‑bedroom, 1.5‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 1166 Bergen Ave, Brooklyn, NY 11234; built in 1970
- Full unfinished basement and 1‑car attached garage
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
$110,178
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
8.01%
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%
$2,203,560
$2.2M
Cap Rate 7%
$1,573,971
$1.6M
Cap Rate 9%
$1,224,200
$1.2M
Market Conditions
NOI Build-Up for 3,146 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
$160.4K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$157.4K $50.03/SF
− OpEx
−$47.2K −$15.01/SF
NOI
$110.2K $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%
$2,203,560
Cap Rate 7%
$1,573,971
Cap Rate 9%
$1,224,200
Alternative Uses
Best Use
Multifamily LT 5
$1.57M
$1.38M – $1.84M
NOI $110,178 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,044 @ 7.0% cap · market cap 6.99%
Theoretical Best
Specialty Retail
$2.60M
$2.28M – $3.04M
NOI $182,342 @ 7.0% cap · market cap 13.26%
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
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two upper apartments provide three bedrooms and one-and-a-half baths, complemented by a separate one-bedroom garden-level unit.
Where is this triplex located?
The property is located at 1166 Bergen Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Three‑unit configuration with two 3‑bedroom, 1.5‑bath apartments and one 1‑bedroom, 1‑bath apartment; 1166 Bergen Ave, Brooklyn, NY 11234; built in 1970; Full unfinished basement and 1‑car attached garage
