Brick Quadplex with Finished
For Sale
$1,948,000
136 Bay 38th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size3,588 SF
Lot Size0.07 Acres
Price / SF$542.92
Days on Market48
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 1, Bathroom 1, Bedroom 9, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bedroom 8, Bedroom 7, Bathroom 3, Bedroom 6
Basement
Finished, Full
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
Listing Agency:
Momentum Real Estate LLC
Listed By:
XiaoBing (Icy) Zhang
(718) 382-0001
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 26 at 2:06AM
MLS# 504395
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.
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Investment Insights
Based on property information with market context.
This 3,588-square-foot quadplex contains four apartments and will be delivered vacant. Three units offer two bedrooms and one full bathroom each, while the fourth provides three bedrooms and one full bathroom. The property also includes a fully finished basement, hardwood flooring, brick construction, and a flat roof.
Built in 1927 on a 0.0666-acre lot, the building is located at 136 Bay 38th Street in Brooklyn’s Bath Beach neighborhood. R5 zoning applies. The surrounding area includes transportation, shopping, restaurants, schools, and other everyday services, providing access to a range of neighborhood conveniences.
Built in 1927 on a 0.0666-acre lot, the building is located at 136 Bay 38th Street in Brooklyn’s Bath Beach neighborhood. R5 zoning applies. The surrounding area includes transportation, shopping, restaurants, schools, and other everyday services, providing access to a range of neighborhood conveniences.
Key Highlights
- Four‑unit residential property delivered vacant
- Three 2‑bedroom, 1‑bathroom apartments and one 3‑bedroom, 1‑bathroom apartment
- 3,588 square feet on a 0.0666‑acre lot
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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,954
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Vacant four-unit property with three two-bedroom apartments and one three-bedroom apartment.
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 $1,948,000.
What are key features of this property?
This property features: Four‑unit residential property delivered vacant; Three 2‑bedroom, 1‑bathroom apartments and one 3‑bedroom, 1‑bathroom apartment; 3,588 square feet on a 0.0666‑acre lot
