Brooklyn 6-Family Brick
For Sale
$1,489,000
1564 Bay Ridge Ave, Brooklyn, NY 11219
Semi-detached 6-family brick property in desirable Brooklyn neighborhood.
Property Size5,280 SF
Days on Market105
Property Features for 1564 Bay Ridge Ave
General Information
Standard status
Active
Size
5,280 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$22,369
Building Details
Building Size
5,280 SF
Year Built
1925
Stories
3
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yuyi Cheng
(917) 708-9966
Source:
Elliman
Added: May 19
Changed: Aug 24
Last Checked: Aug 30 at 10:57PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This semi-detached 6-family brick property is located in a desirable Brooklyn neighborhood. The property is fully occupied and generates a stable rental income. The annual income is approximately $98,018. It features a finished basement with a separate entrance. The building benefits from great natural light. A private driveway is included. The location provides easy access to the D and N subway lines.
Key Highlights
- Prime Brooklyn location with a Walk Score of 96 and excellent transit (Transit Score: 84).
- Strong investment potential with stable rental income and long‑term appreciation.
- Fully occupied 6‑family brick property generating approximately $98,018 annual income.
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
$136,876
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
9.19%
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%
$2,737,520
$2.7M
Cap Rate 7%
$1,955,371
$2.0M
Cap Rate 9%
$1,520,844
$1.5M
Market Conditions
NOI Build-Up for 5,280 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
$259.8K $49.20/SF
− Vacancy
−$10.9K −$2.07/SF
EGI
$248.9K $47.13/SF
− OpEx
−$112.0K −$21.21/SF
NOI
$136.9K $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%
$2,737,520
Cap Rate 7%
$1,955,371
Cap Rate 9%
$1,520,844
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,876 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$3.00M – $3.99M
NOI $239,602 @ 7.0% cap · market cap 16.09%
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 - Semi-detached 6-family brick property in desirable Brooklyn neighborhood.
Where is this apartment building located?
The property is located at 1564 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,489,000.
What are key features of this property?
This property features: Prime Brooklyn location with a Walk Score of 96 and excellent transit (Transit Score: 84).; Strong investment potential with stable rental income and long‑term appreciation.; Fully occupied 6‑family brick property generating approximately $98,018 annual income.
