Three-Story Brick Five-Family
For Sale
$1,899,000
1456 Bay Ridge Avenue, Brooklyn, NY 11219
MULTI_FAMILY - Brooklyn, NY
Property Size4,680 SF
Lot Size0.05 Acres
Price / SF$405.77
Days on Market1381
Property Features for 1456 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bathroom 2, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 9, Bathroom 5, Bathroom 3, Bedroom 5
Interior features
Dishwasher, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Dyker Heights
Standard status
Active
Size
4,680 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
14978
Building Details
Year built
1909
Floors in Building
3
Number of units
5
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #40AN0957928
(718) 532-2000
Added: Nov 10, 2022
Changed: Aug 5
Last Checked: Aug 22 at 5:06PM
MLS# 468968
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.
Located at 1456 Bay Ridge Avenue in Brooklyn, this R5-zoned apartment building is a three-story brick structure built in 1909. The property includes a total of five residential units, with a semi-finished basement featuring a separate entrance and access to the backyard.
The first-floor owner unit is a three-bedroom, one-bath home that has been completely renovated. It connects to the private, spacious backyard through the unit’s layout. The remaining four rental units are configured as two one-bedroom, one-bath apartments and two two-bedroom, one-bath apartments. Tenants are month-to-month.
Additional property information includes 4,680 square feet of building area and a 0.0459-acre lot size. Practical interior features listed for the building include a dishwasher, refrigerator, and stove. Exterior and building finish details include asphalt roofing, brick construction, and hardwood flooring. The D train is one block away, with shopping and other everyday amenities nearby.
The first-floor owner unit is a three-bedroom, one-bath home that has been completely renovated. It connects to the private, spacious backyard through the unit’s layout. The remaining four rental units are configured as two one-bedroom, one-bath apartments and two two-bedroom, one-bath apartments. Tenants are month-to-month.
Additional property information includes 4,680 square feet of building area and a 0.0459-acre lot size. Practical interior features listed for the building include a dishwasher, refrigerator, and stove. Exterior and building finish details include asphalt roofing, brick construction, and hardwood flooring. The D train is one block away, with shopping and other everyday amenities nearby.
Key Highlights
- R5‑zoned three‑story brick five‑family building built in 1909
- 4,680 SF building area on a 0.0459‑acre lot
- Semi‑finished basement with separate entrance and access to the backyard
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
Lease Details
5
Residential units
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 - R5-zoned five-family brick building with a renovated owner unit, separate basement entrance, and month-to-month tenants.
Where is this apartment building located?
The property is located at 1456 Bay Ridge Avenue 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: R5‑zoned three‑story brick five‑family building built in 1909; 4,680 SF building area on a 0.0459‑acre lot; Semi‑finished basement with separate entrance and access to the backyard
