Six-Unit Apartment
For Sale
$1,750,000
1436 66th Street, Brooklyn, NY 11219
Mixed unit configuration includes updated interiors and potential vacancy at closing.
Property Size4,020 SF
Days on Market44
Property Features for 1436 66th Street
General Information
Standard status
Active
Size
4,020 SF
Property subtype
Multi Family Home
Units
Unit Mix
5 x 1BR, 1 x studio
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Building Size
4,020 SF
Year Built
1920
Stories
3
Listing Agency:
Re/Max Edge
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Excellchoicerealty
Added: Jul 18
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
This apartment property contains six residences arranged as five one-bedroom apartments and one studio. Several units have undergone upgrades and offer modern, move-in-ready interiors. Three apartments are expected to be delivered vacant at closing, subject to the contract terms, while the remaining units support continued rental operations.
Built in 1920, the property is positioned near subway transportation, supermarkets, restaurants, delis, shopping, schools, and neighborhood services. Its unit mix combines established rental use with flexibility for future leasing or improvements, depending on the closing delivery and the owner’s plans.
Built in 1920, the property is positioned near subway transportation, supermarkets, restaurants, delis, shopping, schools, and neighborhood services. Its unit mix combines established rental use with flexibility for future leasing or improvements, depending on the closing delivery and the owner’s plans.
Key Highlights
- Five one‑bedroom apartments and one studio apartment
- Three apartments expected vacant at closing, subject to contract terms
- Several apartments feature upgraded, modern interiors
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
$104,212
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
5.95%
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%
$2,084,240
$2.1M
Cap Rate 7%
$1,488,743
$1.5M
Cap Rate 9%
$1,157,911
$1.2M
Market Conditions
NOI Build-Up for 4,020 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
$197.8K $49.20/SF
− Vacancy
−$8.3K −$2.07/SF
EGI
$189.5K $47.13/SF
− OpEx
−$85.3K −$21.21/SF
NOI
$104.2K $25.92/SF
Area
ZIP 11219
Vacancy
4.20%
Lease Rate
$49.20 /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%
$2,084,240
Cap Rate 7%
$1,488,743
Cap Rate 9%
$1,157,911
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,212 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,424 @ 7.0% cap · market cap 10.42%
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
4,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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 - Mixed unit configuration includes updated interiors and potential vacancy at closing.
Where is this apartment building located?
The property is located at 1436 66th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Five one‑bedroom apartments and one studio apartment; Three apartments expected vacant at closing, subject to contract terms; Several apartments feature upgraded, modern interiors
