Four-Family Brick Building with Unfinished
For Sale
$1,950,000
136 Bay 38th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size3,588 SF
Lot Size0.07 Acres
Price / SF$543.48
Days on Market59
Property Features for 136 Bay 38th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 8, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 9, Bedroom 6, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 7
Basement
Full, Unfinished
Subdivision
Bath Beach
Standard status
Active
Size
3,588 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
13724
Building Details
Year built
1927
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Colonial
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
XiaoBing (Icy) Zhang
(718) 382-0001
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 13 at 8:06AM
MLS# 502337
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Four-family brick building in excellent condition, delivered completely vacant and ready for occupancy or renovation. The property includes three apartments with 2 bedrooms and 1 full bathroom each, along with a fourth unit with 3 bedrooms and 1 full bathroom. A full unfinished basement adds space for future use.
The home is situated on a 0.0666-acre lot and totals 3,588 square feet. Built in 1927 in a Colonial style, the construction is brick with a flat roof. Hardwood flooring is featured throughout.
Zoned R5, this quadplex is structured to support both investor and end-user needs, with separate apartment layouts and additional basement volume for expanded functionality.
The home is situated on a 0.0666-acre lot and totals 3,588 square feet. Built in 1927 in a Colonial style, the construction is brick with a flat roof. Hardwood flooring is featured throughout.
Zoned R5, this quadplex is structured to support both investor and end-user needs, with separate apartment layouts and additional basement volume for expanded functionality.
Key Highlights
- Completely vacant delivery
- Four‑unit mix: three 2 bed, 1 bath units plus one 3 bed, 1 bath unit
- 0.0666‑acre lot and 3,588 SF building size
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
$97,862
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
5.02%
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%
$1,957,240
$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
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
$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 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%
$1,957,240
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 7.51%
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
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
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 - R5 four-family building delivered completely vacant, featuring three two-bedroom units plus one three-bedroom unit and an unfinished basement.
Where is this quadplex located?
The property is located at 136 Bay 38th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Completely vacant delivery; Four‑unit mix: three 2 bed, 1 bath units plus one 3 bed, 1 bath unit; 0.0666‑acre lot and 3,588 SF building size
