Vacant 6-Unit Apartment Building with
For Sale
$2,500,000
1392 E 18th Street, Brooklyn, NY 11230
MULTI_FAMILY - Brooklyn, NY
Property Size6,496 SF
Lot Size0.07 Acres
Price / SF$384.85
Days on Market105
Property Features for 1392 E 18th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
13
Bathrooms
9
Full bathrooms
8
Half bathrooms
2
Rooms
Bedroom 12, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 6, Bedroom 11, Bedroom 8, Bathroom 8, Bedroom 5, Bedroom 13, Bedroom 4, Bathroom 2, Bathroom 7, Bathroom 9, Bedroom 10, Bathroom 5, Bathroom 1, Bedroom 9, Bedroom 1, Bathroom 4
Interior features
Central Air, Dishwasher, Refrigerator, Stove, Washer, Window Treatments
Basement
Finished
Subdivision
Midwood
Standard status
Active
Size
6,496 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
47962
Amenities
on-site laundry
Building Details
Year built
2007
Floors in Building
4
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Ilite Realty Inc
(718) 975-0555
Listed By:
Yujie Zhang
(718) 975-0555
Added: Apr 27
Changed: Aug 3
Last Checked: Aug 9 at 4:06AM
MLS# 500863
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.
This vacant 6-unit apartment building was built in 2007 and constructed with brick and a flat roof. The unit mix includes four 1-bedroom/1-bath apartments and two oversized duplexes with four bedrooms and two and a half baths each. Interiors feature hardwood and tile flooring, full kitchens, and central air, along with in-unit appliances such as a dishwasher, refrigerator, stove, and washer, plus window treatments.
The property is set on a 30x100 lot (0.0689 acres) with a total size of 6,496 square feet and is zoned R4-1. Additional conveniences include on-site laundry and three private rear parking spots for residents.
The layout and amenity set support a straightforward multi-unit operation, with the building being fully vacant and ready for new tenancy.
The property is set on a 30x100 lot (0.0689 acres) with a total size of 6,496 square feet and is zoned R4-1. Additional conveniences include on-site laundry and three private rear parking spots for residents.
The layout and amenity set support a straightforward multi-unit operation, with the building being fully vacant and ready for new tenancy.
Key Highlights
- Vacant 6‑unit apartment building built in 2007 with brick construction
- Unit mix: four 1 bed/1 bath units plus two 4 bed/2.5 bath duplexes
- Hardwood and tile flooring, full kitchens, and central air
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
$198,316
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
7.93%
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%
$3,966,320
$4.0M
Cap Rate 7%
$2,833,086
$2.8M
Cap Rate 9%
$2,203,511
$2.2M
Market Conditions
NOI Build-Up for 6,496 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
$367.9K $56.64/SF
− Vacancy
−$7.4K −$1.13/SF
EGI
$360.6K $55.51/SF
− OpEx
−$162.3K −$24.98/SF
NOI
$198.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,966,320
Cap Rate 7%
$2,833,086
Cap Rate 9%
$2,203,511
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,316 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,508 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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?
Apartment building - Vacant 6-unit brick building built in 2007, zoned R4-1, with a mix of one-bed units and duplexes.
Where is this apartment building located?
The property is located at 1392 E 18th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Vacant 6‑unit apartment building built in 2007 with brick construction; Unit mix: four 1 bed/1 bath units plus two 4 bed/2.5 bath duplexes; Hardwood and tile flooring, full kitchens, and central air
