Vacant Brick
New
For Sale
$1,799,000
1664 W 6th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size3,240 SF
Lot Size0.05 Acres
Price / SF$555.25
Days on Market5
Property Features for 1664 W 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 1, Bathroom 5, Bedroom 3
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Gravesend
Standard status
Active
Size
3,240 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
15321
Building Details
Year built
1926
Floors in Building
2
Flooring type
Hardwood, Tile, Laminate
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 11 at 8:06PM
MLS# 503620
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 1926 brick quadplex contains four apartments: three two-bedroom units and one one-bedroom unit. The building measures 3,240 square feet on a 0.0459-acre lot, with a 20*81' building footprint and 20*100' parcel. A finished basement has its own front entrance, and interior finishes include hardwood, laminate, and tile flooring. Kitchens are equipped with refrigerators and stoves.
The property is located at 1664 W 6th Street in Brooklyn, NY 11223, near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are identified in the surrounding area. The building is zoned R4-1 and is being delivered fully vacant.
The property is located at 1664 W 6th Street in Brooklyn, NY 11223, near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are identified in the surrounding area. The building is zoned R4-1 and is being delivered fully vacant.
Key Highlights
- Four‑unit residential property delivered fully vacant
- Unit mix includes 3 two‑bedroom apartments and 1 one‑bedroom apartment
- 3,240 square feet on a 0.0459‑acre lot
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 - Four vacant apartments, a finished basement, and a dedicated front entry support flexible residential use.
Where is this quadplex located?
The property is located at 1664 W 6th Street 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‑unit residential property delivered fully vacant; Unit mix includes 3 two‑bedroom apartments and 1 one‑bedroom apartment; 3,240 square feet on a 0.0459‑acre lot
