6-Unit Brick Apartment
New
For Sale
$1,650,000
1499 E 10th Street, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size1,800 SF
Lot Size0.05 Acres
Price / SF$916.67
Days on Market2
Property Features for 1499 E 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 5, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 8, Bathroom 1, Bedroom 11, Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 10, Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 9
Basement
Finished, Full
Subdivision
Midwood
Standard status
Active
Size
1,800 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
23977
Building Details
Year built
1925
Floors in Building
3
Number of units
6
Building materials
Brick
Roof type
Flat
Listing Agency:
Winzone Realty Inc
Listed By:
Bin Hu Zhan
(718) 676-6611
Added: Sep 30
Last Checked: Oct 1 at 4:06PM
MLS# 504958
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 three-story, semi-attached brick apartment building contains six residences, with two two-bedroom apartments on each floor. The building measures approximately 25 by 72 feet and includes a full basement. The property dates to 1925 and has R5 zoning.
The unit mix comprises two rent-stabilized apartments and four free-market apartments. Recent building improvements include a heating system, boiler, and roof.
The unit mix comprises two rent-stabilized apartments and four free-market apartments. Recent building improvements include a heating system, boiler, and roof.
Key Highlights
- Six residential units across three stories
- Two two‑bedroom apartments per floor
- Four free‑market units and two rent‑stabilized units
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
$54,952
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
3.33%
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%
$1,099,040
$1.1M
Cap Rate 7%
$785,029
$785.0K
Cap Rate 9%
$610,578
$610.6K
Market Conditions
NOI Build-Up for 1,800 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
$102.0K $56.64/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$99.9K $55.51/SF
− OpEx
−$45.0K −$24.98/SF
NOI
$55.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$1,099,040
Cap Rate 7%
$785,029
Cap Rate 9%
$610,578
Alternative Uses
Best Use
Apartment 5plus
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,328 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,718
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?
Apartment building - Six apartments occupy three residential floors, with two rent-stabilized units and four free-market units.
Where is this apartment building located?
The property is located at 1499 E 10th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six residential units across three stories; Two two‑bedroom apartments per floor; Four free‑market units and two rent‑stabilized units
