Vacant Four-Unit Multifamily
For Sale
$1,948,000
136 Bay 38th St, Brooklyn, NY 11214
Delivered empty with three two-bedroom apartments, one three-bedroom apartment, and a finished basement.
Property Size3,588 SF
Days on Market49
Property Features for 136 Bay 38th St
General Information
Standard status
Active
Size
3,588 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,724
Building Details
Building Size
3,588 SF
Year Built
1927
Buildings
1
Stories
2
Listing Agency:
Momentum Real Estate LLC
Listed By:
XiaoBing (Icy) Zhang
(718) 382-0001
Source:
Elliman
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 26 at 5:21PM
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 Momentum Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1927, this four-unit multifamily property will be delivered vacant. The unit mix includes three apartments with two bedrooms and one full bathroom each, plus a fourth apartment with three bedrooms and one full bathroom. A fully finished basement adds additional interior space for future use.
The property is located at 136 Bay 38th St in Brooklyn’s Bath Beach neighborhood. The surrounding area offers access to transportation, shopping, restaurants, schools, and daily conveniences. WalkScore is 96, TransitScore is 86, and bikeScore is 67, placing the property within a highly connected urban setting.
The property is located at 136 Bay 38th St in Brooklyn’s Bath Beach neighborhood. The surrounding area offers access to transportation, shopping, restaurants, schools, and daily conveniences. WalkScore is 96, TransitScore is 86, and bikeScore is 67, placing the property within a highly connected urban setting.
Key Highlights
- Four‑unit property delivered vacant
- Unit mix includes three 2‑bedroom apartments and one 3‑bedroom apartment
- Each apartment includes 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,862
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,957,240
$2.0M
Cap Rate 7%
$1,398,029
$1.4M
Cap Rate 9%
$1,087,356
$1.1M
Market Conditions
NOI Build-Up for 3,588 SF
Gross rent
$146.4K $40.80/SF
− Vacancy
−$6.6K −$1.84/SF
EGI
$139.8K $38.96/SF
− OpEx
−$41.9K −$11.69/SF
NOI
$97.9K $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 Rate 5%
$1,957,240
Cap Rate 7%
$1,398,029
Cap Rate 9%
$1,087,356
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.22M – $1.63M
NOI $97,862 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,707 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,514 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,954
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Delivered empty with three two-bedroom apartments, one three-bedroom apartment, and a finished basement.
Where is this quadplex located?
The property is located at 136 Bay 38th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,948,000.
What are key features of this property?
This property features: Four‑unit property delivered vacant; Unit mix includes three 2‑bedroom apartments and one 3‑bedroom apartment; Each apartment includes 1 full bathroom
