Detached Brick 3-Family
For Sale
$2,349,000
1602 78th Street, Brooklyn, NY 11214
Fully detached three-unit brick property with a semi-finished basement, garage, and private back patio in Brooklyn.
Property Size2,600 SF
Days on Market74
Property Features for 1602 78th Street
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R5
Additional Details
Multifamily Units
3
Building Details
Building Size
2,600 SF
Year Built
1920
Stories
2
Tenancy
Multi
Listing Agency:
Pecoraro Realty Of Nyc, LLC
Listed By:
Kathy Samaris
(917) 417-6114
Source:
Excellchoicerealty
Added: Jun 28
Changed: Sep 8
Last Checked: Sep 8 at 5:51AM
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 Pecoraro Realty Of Nyc, LLC
Investment Insights
Based on property information with market context.
This fully detached three-family brick home offers three income-producing apartments plus a semi-finished basement. The first-floor layout includes a living room, dining room, kitchen, full bath, two bedrooms, and a small office that could serve as a third bedroom. The second floor has two apartments: a front unit with a living room, dining area, renovated kitchen, renovated three-quarter bath, and one bedroom with three closets, and a rear unit with a living room with closet, kitchen, full bath, and a well-sized bedroom with excellent natural light.
A semi-finished basement is accessible via a side entrance shared with the first floor, and also via a second door that leads to the back patio. The basement includes a three-quarter bath. The property exterior is fully detached brick and includes a two-car garage along with a party driveway on the lot, allowing for an additional parking space in the rear, and a private back patio.
Recent upgrades include new gas piping and meters, updated electrical panels, and a hot water heater. With multiple self-contained residential units and flexible basement space, the building can fit buyers or operators looking for a detached structure with parking on-site and adaptable interior layouts.
A semi-finished basement is accessible via a side entrance shared with the first floor, and also via a second door that leads to the back patio. The basement includes a three-quarter bath. The property exterior is fully detached brick and includes a two-car garage along with a party driveway on the lot, allowing for an additional parking space in the rear, and a private back patio.
Recent upgrades include new gas piping and meters, updated electrical panels, and a hot water heater. With multiple self-contained residential units and flexible basement space, the building can fit buyers or operators looking for a detached structure with parking on-site and adaptable interior layouts.
Key Highlights
- Fully detached 3‑family brick home (Year built 1920) in Bensonhurst with three income‑producing units plus a semi‑finished basement
- Two‑car garage plus party driveway with room for an additional vehicle, along with a private back patio
- First floor (original condition) layout includes living room, dining room, kitchen, full bath, two bedrooms, and a small office that could serve as a third bedroom
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
$70,914
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
3.02%
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%
$1,418,280
$1.4M
Cap Rate 7%
$1,013,057
$1.0M
Cap Rate 9%
$787,933
$787.9K
Market Conditions
NOI Build-Up for 2,600 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
$106.1K $40.80/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$101.3K $38.96/SF
− OpEx
−$30.4K −$11.69/SF
NOI
$70.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,418,280
Cap Rate 7%
$1,013,057
Cap Rate 9%
$787,933
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.4K – $1.18M
NOI $70,914 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,170 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,541
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Triplex - Fully detached three-unit brick property with a semi-finished basement, garage, and private back patio in Brooklyn.
Where is this triplex located?
The property is located at 1602 78th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,349,000.
What are key features of this property?
This property features: Fully detached 3‑family brick home (Year built 1920) in Bensonhurst with three income‑producing units plus a semi‑finished basement; Two‑car garage plus party driveway with room for an additional vehicle, along with a private back patio; First floor (original condition) layout includes living room, dining room, kitchen, full bath, two bedrooms, and a small office that could serve as a third bedroom
