Vacant 4-Unit Brick
New
For Sale
$1,799,000
1664 W 6th St, Brooklyn, NY 11223
Delivered vacant with a finished basement and separate front entrance.
Property Size3,240 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 1664 W 6th St
General Information
Standard status
Active
Size
3,240 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,321
Building Details
Building Size
3,240 SF
Year Built
1926
Buildings
1
Stories
2
Construction
brick
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:05AM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
This 1926 brick quadplex is configured with four apartments: three two-bedroom units and one one-bedroom unit. The property includes a finished basement and a separate front entrance, and it will be delivered fully vacant. The building measures 20×81 feet and occupies a 20×100-foot lot.
The property is located at 1664 W 6th St in Brooklyn, near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are identified in the surrounding area. Transit access is reflected in a walk score of 96, transit score of 84, and bike score of 56.
The property is located at 1664 W 6th St in Brooklyn, near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are identified in the surrounding area. Transit access is reflected in a walk score of 96, transit score of 84, and bike score of 56.
Key Highlights
- Four‑family brick building delivered fully vacant
- Unit mix includes 3 two‑bedroom apartments and 1 one‑bedroom apartment
- Finished basement with separate front entrance
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
$113,470
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
6.31%
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%
$2,269,400
$2.3M
Cap Rate 7%
$1,621,000
$1.6M
Cap Rate 9%
$1,260,778
$1.3M
Market Conditions
NOI Build-Up for 3,240 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
$165.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.1K $50.03/SF
− OpEx
−$48.6K −$15.01/SF
NOI
$113.5K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,269,400
Cap Rate 7%
$1,621,000
Cap Rate 9%
$1,260,778
Alternative Uses
Best Use
Multifamily LT 5
$1.62M
$1.42M – $1.89M
NOI $113,470 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,914 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,790 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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?
Quadplex - Delivered vacant with a finished basement and separate front entrance.
Where is this quadplex located?
The property is located at 1664 W 6th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Four‑family brick building delivered fully vacant; Unit mix includes 3 two‑bedroom apartments and 1 one‑bedroom apartment; Finished basement with separate front entrance
