Brick Quadplex with
For Sale
$2,000,000
1450 Ocean Ave, Brooklyn, NY 11230
Four-family residential property with R7A zoning and a shared vehicle drive.
Property Size3,280 SF
Lot Size0.09 Acres
Price / SF$1,250
Days on Market13
Property Features for 1450 Ocean Ave
General Information
Standard status
Active
Size
3,280 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Zoning
R7A
Property Condition
Severity
Repairs Needed
Evidence
requires TLC
Additional Details
Multifamily Units
4
Building Details
Building Size
3,280 SF
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Behfar Team, LLC
(347) 988-2526
Listed By:
Daniel Sosani
(347) 988-2526
Source:
Elliman
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 30 at 4:01PM
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 Behfar Team, LLC
Investment Insights
Based on property information with market context.
This semi-detached brick quadplex occupies a 25' × 151' lot and contains a 20' × 80' building. The property is vacant and requires TLC, offering an existing four-family configuration within an R7A-zoned residential setting. A wide shared driveway provides parking for multiple vehicles, adding practical site functionality uncommon in a compact urban property.
The property is located at 1450 Ocean Ave, Brooklyn, NY 11230. TransitScore is 90, described as Rider's Paradise, while BikeScore is 80, described as Very Bikeable. The combination of an established residential structure, substantial lot depth, zoning designation, and on-site vehicle access provides a clear physical profile for review by multifamily buyers.
The property is located at 1450 Ocean Ave, Brooklyn, NY 11230. TransitScore is 90, described as Rider's Paradise, while BikeScore is 80, described as Very Bikeable. The combination of an established residential structure, substantial lot depth, zoning designation, and on-site vehicle access provides a clear physical profile for review by multifamily buyers.
Key Highlights
- Semi‑detached brick four‑family property
- 25' × 151' lot with a 20' × 80' building
- R7A zoning
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
$56,035
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
2.80%
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%
$1,120,700
$1.1M
Cap Rate 7%
$800,500
$800.5K
Cap Rate 9%
$622,611
$622.6K
Market Conditions
NOI Build-Up for 1,600 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
$81.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$80.0K $50.03/SF
− OpEx
−$24.0K −$15.01/SF
NOI
$56.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$1,120,700
Cap Rate 7%
$800,500
Cap Rate 9%
$622,611
Alternative Uses
Best Use
Multifamily LT 5
$800.5K
$700.4K – $933.9K
NOI $56,035 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$697.8K
$610.6K – $814.1K
NOI $48,846 @ 7.0% cap · market cap 2.44%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 4.64%
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
4,418
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?
Quadplex - Four-family residential property with R7A zoning and a shared vehicle drive.
Where is this quadplex located?
The property is located at 1450 Ocean Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Semi‑detached brick four‑family property; 25' × 151' lot with a 20' × 80' building; R7A zoning
