Vacant Brick
For Sale
$1,629,000
1673 83rd St, Brooklyn, NY 11214
Three vacant units offer flexible layouts for investment, owner occupancy, or multigenerational living.
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$543
Days on Market11
Property Features for 1673 83rd St
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,162
Building Details
Building Size
3,000 SF
Year Built
1899
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Keller Williams Realty Empire
(718) 766-7159
Listed By:
Weiping Liang · License #10401332637
(718) 766-7159
Source:
Elliman
Added: Aug 19
Changed: Aug 23
Last Checked: Aug 29 at 12:42PM
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 Keller Williams Realty Empire
Investment Insights
Based on property information with market context.
Built in 1899, this vacant brick triplex contains approximately 3,000 square feet of living space on a 20’ x 100’ lot. The property includes three separate units with adaptable configurations. The first floor has two bedrooms and one full bathroom, with an option to create a third bedroom. A walk-in basement provides two bedrooms and 1.5 bathrooms, with a layout that can be converted to three bedrooms. The second floor includes three bedrooms and one full bathroom, with flexibility for a fourth bedroom.
The property is located at 1673 83rd St in Brooklyn, NY 11214, near D train service at 18th Avenue and 79th Street. B1 and B8 bus routes are nearby, along with the 86th Street shopping district, restaurants, supermarkets, banks, schools, and daily retail services. Walk Score is 95, Transit Score is 75, and Bike Score is 56.
The property is located at 1673 83rd St in Brooklyn, NY 11214, near D train service at 18th Avenue and 79th Street. B1 and B8 bus routes are nearby, along with the 86th Street shopping district, restaurants, supermarkets, banks, schools, and daily retail services. Walk Score is 95, Transit Score is 75, and Bike Score is 56.
Key Highlights
- Three‑family brick property built in 1899
- Approximately 3,000 square feet of living space on a 20’ x 100’ lot
- Fully vacant with three separate residential units
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
$81,824
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
5.02%
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%
$1,636,480
$1.6M
Cap Rate 7%
$1,168,914
$1.2M
Cap Rate 9%
$909,156
$909.2K
Market Conditions
NOI Build-Up for 3,000 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
$122.4K $40.80/SF
− Vacancy
−$5.5K −$1.84/SF
EGI
$116.9K $38.96/SF
− OpEx
−$35.1K −$11.69/SF
NOI
$81.8K $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%
$1,636,480
Cap Rate 7%
$1,168,914
Cap Rate 9%
$909,156
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,824 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,504 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,872
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?
Triplex - Three vacant units offer flexible layouts for investment, owner occupancy, or multigenerational living.
Where is this triplex located?
The property is located at 1673 83rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,629,000.
What are key features of this property?
This property features: Three‑family brick property built in 1899; Approximately 3,000 square feet of living space on a 20’ x 100’ lot; Fully vacant with three separate residential units
