Detached Triplex with Private
New
For Sale
$1,768,000
1607 Benson Ave, Brooklyn, NY 11214
Three-family brick property with a flexible unit layout, finished basement, backyard deck, and dedicated vehicle access.
Property Size1,976 SF
Lot Size0.05 Acres
Price / SF$894.74
Days on Market2
Property Features for 1607 Benson Ave
General Information
Standard status
Active
Size
1,976 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,073
Amenities
private driveway
garage
private backyard
deck
storage shed
finished basement
separate entrance
Building Details
Building Size
1,976 SF
Year Built
1935
Buildings
1
Construction
brick
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang
(917) 708-9966
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 4:13AM
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 fully detached, legal three-family brick residence was built in 1935 and contains approximately 1,976 square feet of living space. The first floor has two bedrooms and one full bathroom, while the second floor includes two separate one-bedroom apartments, each with one full bathroom. A finished basement adds two recreation areas, another full bathroom, and a separate entrance.
The property sits on a 23' × 90' lot with a building footprint of approximately 19' × 53'. Exterior features include a private backyard with a deck, storage beneath the deck, a private driveway, and a garage. Its Bensonhurst setting places the home approximately minutes from the 86th Street shopping district, with supermarkets, restaurants, shopping, and public transportation nearby. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
The property sits on a 23' × 90' lot with a building footprint of approximately 19' × 53'. Exterior features include a private backyard with a deck, storage beneath the deck, a private driveway, and a garage. Its Bensonhurst setting places the home approximately minutes from the 86th Street shopping district, with supermarkets, restaurants, shopping, and public transportation nearby. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
Key Highlights
- Legal three‑family brick residence built in 1935
- Approximately 1,976 sq. ft. of living space on a 23' × 90' lot
- First floor with 2 bedrooms and 1 full bathroom
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
$53,895
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
3.05%
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%
$1,077,900
$1.1M
Cap Rate 7%
$769,929
$769.9K
Cap Rate 9%
$598,833
$598.8K
Market Conditions
NOI Build-Up for 1,976 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
$80.6K $40.80/SF
− Vacancy
−$3.6K −$1.84/SF
EGI
$77.0K $38.96/SF
− OpEx
−$23.1K −$11.69/SF
NOI
$53.9K $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%
$1,077,900
Cap Rate 7%
$769,929
Cap Rate 9%
$598,833
Alternative Uses
Best Use
Multifamily LT 5
$769.9K
$673.7K – $898.3K
NOI $53,895 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$690.0K
$603.8K – $805.0K
NOI $48,302 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,689 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,677
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 - Three-family brick property with a flexible unit layout, finished basement, backyard deck, and dedicated vehicle access.
Where is this triplex located?
The property is located at 1607 Benson Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,768,000.
What are key features of this property?
This property features: Legal three‑family brick residence built in 1935; Approximately 1,976 sq. ft. of living space on a 23' × 90' lot; First floor with 2 bedrooms and 1 full bathroom
