Vacant Brick
For Sale
$1,750,000
1664 W 6th Street, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size3,240 SF
Lot Size0.05 Acres
Price / SF$540.12
Days on Market56
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, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 6, Bedroom 7, Bedroom 5, Bathroom 1, Bedroom 1
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Gravesend
Standard status
Active
Size
3,240 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
15321
Amenities
finished basement
separate front entrance
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
(347) 988-5318
Added: Aug 7
Changed: Oct 1
Last Checked: Oct 1 at 3:06PM
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 3 two-bedroom apartments and 1 one-bedroom apartment, totaling 3,240 square feet. The building sits on a 20*100' lot and measures 20*81'. A finished basement with its own front entrance adds usable interior space. Existing features include refrigerators and stoves, with hardwood, laminate, and tile flooring throughout the property. The flat-roof building is delivered fully vacant and is zoned R4-1.
Located at 1664 W 6th Street in Brooklyn, the property is near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are also identified in the surrounding area. The four-family configuration and vacant delivery provide a clear residential income property format for the next owner.
Located at 1664 W 6th Street in Brooklyn, the property is near the N train at Kings Highway. Shopping, supermarkets, restaurants, schools, and public transportation are also identified in the surrounding area. The four-family configuration and vacant delivery provide a clear residential income property format for the next owner.
Key Highlights
- Four‑family layout with 3 two‑bedroom apartments and 1 one‑bedroom apartment
- 3,240 square feet in a 1926 brick building
- 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
6.48%
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 6.48%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,914 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,790 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully vacant four-family building with a finished basement and separate front entry.
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 $1,750,000.
What are key features of this property?
This property features: Four‑family layout with 3 two‑bedroom apartments and 1 one‑bedroom apartment; 3,240 square feet in a 1926 brick building; Finished basement with separate front entrance
