6-Unit Apartment
For Sale
$5,800,000
1403 Bay Ridge Parkway, Brooklyn, NY 11228
Each residence has its own laundry equipment and separate gas and electric meters.
Property Size7,056 SF
Price / SF$821
Days on Market17
Property Features for 1403 Bay Ridge Parkway
General Information
Standard status
Active
Size
7,056 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
R4
Units
Unit Mix
6 x 2BR/2BA
Multifamily Units
6
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Annual Taxes
$8,600
Amenities
fireplace
washer & dryer
Building Details
Building Size
7,056 SF
Year Built
2015
Buildings
1
Stories
3
Units
6
Listing Agency:
Edward Candan
(516) 458-9099
Listed By:
Edward Candan
Source:
Croninreale
Added: Oct 9
Changed: Oct 23
Last Checked: Oct 23 at 9:54AM
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 Edward Candan
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2015, this 7,056-square-foot, three-story apartment property contains six renovated two-bedroom, two-bath units. Each apartment has living and dining rooms, a kitchen, a fireplace, an in-unit washer and dryer, and separate gas and electric meters. First-floor duplex units have cellar space, and apartment ceilings measure 9 1/2 feet.
The property has six parking spaces and R4 zoning. Residents are responsible for heat, hot water, and electricity.
The property has six parking spaces and R4 zoning. Residents are responsible for heat, hot water, and electricity.
Key Highlights
- Six renovated two‑bedroom, two‑bath apartments
- 7,056 square feet across three floors; built in 2015
- Each apartment has a fireplace, washer and dryer, and separate gas and electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,412
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,308,240
$4.3M
Cap Rate 7%
$3,077,314
$3.1M
Cap Rate 9%
$2,393,467
$2.4M
Market Conditions
NOI Build-Up for 7,056 SF
Gross rent
$399.7K $56.64/SF
− Vacancy
−$8.0K −$1.13/SF
EGI
$391.7K $55.51/SF
− OpEx
−$176.2K −$24.98/SF
NOI
$215.4K $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 Rate 5%
$4,308,240
Cap Rate 7%
$3,077,314
Cap Rate 9%
$2,393,467
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,412 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.84M
$5.11M – $6.82M
NOI $408,966 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has its own laundry equipment and separate gas and electric meters.
Where is this apartment building located?
The property is located at 1403 Bay Ridge Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Six renovated two‑bedroom, two‑bath apartments; 7,056 square feet across three floors; built in 2015; Each apartment has a fireplace, washer and dryer, and separate gas and electric meters
