Six-Unit Apartment Building with Private
For Sale
$1,489,000
1564 Bay Ridge Avenue, Brooklyn, NY 11219
MULTI_FAMILY - Brooklyn, NY
Property Size5,280 SF
Lot Size0.07 Acres
Price / SF$282.01
Days on Market103
Property Features for 1564 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 10, Bathroom 2, Bedroom 8, Bedroom 11, Bathroom 1, Bedroom 9, Bathroom 5, Bedroom 6, Bedroom 4, Bedroom 7, Bedroom 3, Bathroom 6
Interior features
Refrigerator
Basement
Finished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
5,280 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
22369
Amenities
private driveway
finished basement with separate entrance
Building Details
Year built
1925
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yuyi Cheng
(917) 708-9966
Added: May 18
Changed: Aug 4
Last Checked: Aug 28 at 9:06AM
MLS# 501540
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 six-unit brick apartment building features a finished basement with a separate entrance. The property is equipped with a total of 7 gas meters, and the basement has independent gas and electricity supplies. Interior finishes include tile and hardwood flooring, and a listed interior feature is a refrigerator. A flat roof tops the building, which was built in 1925.
The building is zoned R5 and includes a private driveway. Public transit access is supported by easy access to the D and N subway lines.
The property is presented as fully occupied with stable rental income, with the unit layout supported by multiple bedrooms and bathrooms as reflected in the room list.
The building is zoned R5 and includes a private driveway. Public transit access is supported by easy access to the D and N subway lines.
The property is presented as fully occupied with stable rental income, with the unit layout supported by multiple bedrooms and bathrooms as reflected in the room list.
Key Highlights
- Private driveway with semi‑detached six‑unit layout
- R5 zoning in Brooklyn with brick construction and flat roof
- Basement has independent gas and electricity supplies plus 7 total gas meters
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
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
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 six-unit brick building in R5 zoning with a private driveway and a finished basement with separate entrance.
Where is this apartment building located?
The property is located at 1564 Bay Ridge Avenue 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: Private driveway with semi‑detached six‑unit layout; R5 zoning in Brooklyn with brick construction and flat roof; Basement has independent gas and electricity supplies plus 7 total gas meters
