Detached Brick Triplex with
For Sale
$1,699,000
1607 Benson Avenue, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size1,976 SF
Lot Size0.05 Acres
Price / SF$859.82
Days on Market51
Property Features for 1607 Benson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
Patio and Porch features
Deck
Interior features
A/C Unit - Window, Deck, Refrigerator, Stove
Basement
Unfinished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
1,976 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9073
Amenities
backyard
deck
storage shed
Building Details
Year built
1935
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Block, Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(718) 256-4000
Added: Aug 12
Changed: Sep 29
Last Checked: Oct 1 at 3:06PM
MLS# 503735
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 legal, fully detached triplex contains approximately 1,976 square feet in a brick building constructed in 1935. 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, one full bathroom, and a separate entrance.
The 0.0475-acre lot measures approximately 23 feet by 90 feet and includes a private driveway, garage, backyard, deck, and storage shed beneath the deck. Interior features include window A/C units, hardwood and tile flooring, a refrigerator, and a stove. The property is zoned R5 and located at 1607 Benson Avenue in Brooklyn, NY 11214.
The 0.0475-acre lot measures approximately 23 feet by 90 feet and includes a private driveway, garage, backyard, deck, and storage shed beneath the deck. Interior features include window A/C units, hardwood and tile flooring, a refrigerator, and a stove. The property is zoned R5 and located at 1607 Benson Avenue in Brooklyn, NY 11214.
Key Highlights
- Legal three‑family brick building with approximately 1,976 square feet
- First floor includes 2 bedrooms and 1 full bathroom
- Second floor has two separate 1‑bedroom, 1‑bathroom apartments
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
3.17%
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 3.17%
Second Best
Apartment 5plus
$690.0K
$603.8K – $805.0K
NOI $48,302 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,689 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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?
Triplex - Legal three-family property with separate apartments, finished basement space, private outdoor areas, and dedicated vehicle storage.
Where is this triplex located?
The property is located at 1607 Benson Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Legal three‑family brick building with approximately 1,976 square feet; First floor includes 2 bedrooms and 1 full bathroom; Second floor has two separate 1‑bedroom, 1‑bathroom apartments
