Brick Quadplex with Driveway
For Sale
$2,000,000
1450 Ocean Avenue, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size3,280 SF
Lot Size0.09 Acres
Price / SF$609.76
Days on Market46
Property Features for 1450 Ocean Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
6
Full bathrooms
2
Half bathrooms
4
Rooms
Bathroom 5, Bathroom 6, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4
Basement
Finished
Subdivision
Midwood
Standard status
Active
Size
3,280 SF
Lot size
0.09 Acres
Building Details
Floors in Building
2
Flooring type
Ceramic, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Behfar Team, LLC
Listed By:
Daniel Sosani
(347) 988-2526
Added: Aug 17
Changed: Sep 15
Last Checked: Oct 1 at 2:06PM
MLS# 503682
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 semi-detached brick quadplex at 1450 Ocean Avenue is configured as a four-family residential property with 3,280 square feet of building area. The structure includes six bathrooms, ceramic and hardwood flooring, and a flat roof. The property is vacant and the existing building requires TLC.
The parcel contains 0.087 acres, measuring 25 feet by 151 feet, and carries R7A zoning. A wide shared driveway provides parking for multiple vehicles. Located in Brooklyn, the property offers an existing four-family configuration with zoning and site characteristics that may support further evaluation of expansion or new construction options.
The parcel contains 0.087 acres, measuring 25 feet by 151 feet, and carries R7A zoning. A wide shared driveway provides parking for multiple vehicles. Located in Brooklyn, the property offers an existing four-family configuration with zoning and site characteristics that may support further evaluation of expansion or new construction options.
Key Highlights
- Four‑family semi‑detached brick property at 1450 Ocean Avenue, Brooklyn, NY 11230
- 3,280 square feet of building area on a 0.087‑acre lot
- 25' * 151' lot with a wide shared driveway and parking for multiple vehicles
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
$114,871
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
5.74%
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%
$2,297,420
$2.3M
Cap Rate 7%
$1,641,014
$1.6M
Cap Rate 9%
$1,276,344
$1.3M
Market Conditions
NOI Build-Up for 3,280 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
$167.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.1K $50.03/SF
− OpEx
−$49.2K −$15.01/SF
NOI
$114.9K $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%
$2,297,420
Cap Rate 7%
$1,641,014
Cap Rate 9%
$1,276,344
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - R7A zoning and a shared driveway provide multiple-vehicle parking for this four-family property.
Where is this quadplex located?
The property is located at 1450 Ocean Avenue 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: Four‑family semi‑detached brick property at 1450 Ocean Avenue, Brooklyn, NY 11230; 3,280 square feet of building area on a 0.087‑acre lot; 25' * 151' lot with a wide shared driveway and parking for multiple vehicles
