Dyker Heights Five Family
For Sale
$1,899,000
1456 Bay Ridge Ave, Brooklyn, NY 11219
Three-story brick building with renovated owner's unit and rental income.
Property Size4,680 SF
Lot Size0.05 Acres
Days on Market267
Property Features for 1456 Bay Ridge Ave
General Information
Standard status
Active
Size
4,680 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,978
Building Details
Building Size
4,680 SF
Year Built
1909
Stories
3
Listing Agency:
RE/MAX Real Estates Professionals
(718) 532-2000
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 22 at 10:44AM
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 Real Estates Professionals
Investment Insights
Based on property information with market context.
This is a three-story brick five-family building located in Dyker Heights. The building has a total area of 4,680 square feet and is situated on a 20x100 sq. ft. lot. It features a semi-finished basement with a separate entrance and access to the backyard. The first floor contains a renovated 3-bedroom, 1-bath owner's unit that provides access to a private, spacious backyard. The property also includes four rental units, consisting of two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units. The tenants are currently on month-to-month leases. The first-floor 3-bedroom, 1-bath unit and both 2-bedroom, 1-bath units are notable features. The building is located one block from the D train and is close to shopping areas.
Key Highlights
- Five‑family brick building in Dyker Heights
- Completely renovated 3‑bedroom, 1‑bath owner's unit on the first floor**
- Private and spacious backyard accessible from the owner's unit**
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
$121,322
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
6.39%
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%
$2,426,440
$2.4M
Cap Rate 7%
$1,733,171
$1.7M
Cap Rate 9%
$1,348,022
$1.3M
Market Conditions
NOI Build-Up for 4,680 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
$230.3K $49.20/SF
− Vacancy
−$9.7K −$2.07/SF
EGI
$220.6K $47.13/SF
− OpEx
−$99.3K −$21.21/SF
NOI
$121.3K $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%
$2,426,440
Cap Rate 7%
$1,733,171
Cap Rate 9%
$1,348,022
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.52M – $2.02M
NOI $121,322 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,375 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,984
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 - Three-story brick building with renovated owner's unit and rental income.
Where is this apartment building located?
The property is located at 1456 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Five‑family brick building in Dyker Heights; Completely renovated 3‑bedroom, 1‑bath owner's unit on the first floor**; Private and spacious backyard accessible from the owner's unit**
