Detached Brick 6-Unit
For Sale
$1,287,000
1646 Benson Avenue, Brooklyn, NY 11214
Turnkey detached corner brick building with six residential units, three stories plus a finished basement with separate entrances.
Property Size4,750 SF
Days on Market56
Property Features for 1646 Benson Avenue
General Information
Standard status
Active
Size
4,750 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Building Size
4,750 SF
Year Built
1926
Stories
3
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
Listed By:
Bin Hu Zhan
(718) 676-6611
Source:
Michaelfraulo
Added: Jul 15
Changed: Sep 8
Last Checked: Sep 8 at 5:15AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
Turnkey detached corner brick building comprising six residential units. The property is arranged over three stories with a beautifully finished full basement, and the basement provides separate entrances. The unit mix includes two 3-bedroom apartments and four 2-bedroom apartments. The building is described as well-maintained and extensively upgraded.
The building sits on a 20’ x 89’ lot with a 20’ x 79’ building footprint. According to the provided information, it includes one parking space on the certificate of occupancy and is separately metered with seven gas meters and seven electric meters.
This fully detached corner configuration supports independent access to the finished basement while maintaining the main multi-unit structure above.
The building sits on a 20’ x 89’ lot with a 20’ x 79’ building footprint. According to the provided information, it includes one parking space on the certificate of occupancy and is separately metered with seven gas meters and seven electric meters.
This fully detached corner configuration supports independent access to the finished basement while maintaining the main multi-unit structure above.
Key Highlights
- Year built 1926: fully detached corner brick 6‑dwelling building with three stories plus a finished full basement
- Lot size 20’ × 89’ with building size 20’ × 79’
- Unit mix: two 3‑bedroom apartments and four 2‑bedroom 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
$116,111
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
9.02%
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%
$2,322,220
$2.3M
Cap Rate 7%
$1,658,729
$1.7M
Cap Rate 9%
$1,290,122
$1.3M
Market Conditions
NOI Build-Up for 4,750 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
$219.5K $46.20/SF
− Vacancy
−$8.3K −$1.76/SF
EGI
$211.1K $44.44/SF
− OpEx
−$95.0K −$20.00/SF
NOI
$116.1K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$2,322,220
Cap Rate 7%
$1,658,729
Cap Rate 9%
$1,290,122
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,111 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,964 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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?
Apartment building - Turnkey detached corner brick building with six residential units, three stories plus a finished basement with separate entrances.
Where is this apartment building located?
The property is located at 1646 Benson Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,287,000.
What are key features of this property?
This property features: Year built 1926: fully detached corner brick 6‑dwelling building with three stories plus a finished full basement; Lot size 20’ × 89’ with building size 20’ × 79’; Unit mix: two 3‑bedroom apartments and four 2‑bedroom apartments
