Vacant Brick
For Sale
$1,629,000
1673 83rd Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$543
Days on Market11
Property Features for 1673 83rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3
Patio and Porch features
Deck
Interior features
A/C Unit - Window, Deck, Dryer, Microwave, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8162
Building Details
Year built
1899
Floors in Building
3
Number of units
3
Flooring type
Ceramic, Hardwood, Carpet
Building materials
Brick, Masonry
Roof type
Asphalt, Flat
Listing Agency:
Keller Williams Realty Staten
(718) 766-7159
Listed By:
Weiping Liang · License #10401332637
(718) 766-7159
Added: Aug 18
Changed: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 503875
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 fully vacant triplex is a brick and masonry residence built in 1899, with approximately 3,000 square feet of living space on a 20' x 100' lot. The property contains three units, including a walk-in basement, and offers adaptable interior configurations. Existing features include a deck, window A/C units, ceramic, carpet, and hardwood flooring, along with a kitchen equipped with a stove, refrigerator, microwave, washer, and dryer.
The property is located in Bensonhurst near D train service at 18th Avenue and 79th Street, with B1 and B8 bus routes nearby. The 86th Street shopping district is close by, along with restaurants, supermarkets, banks, schools, and other everyday services. The property is zoned R5.
The property is located in Bensonhurst near D train service at 18th Avenue and 79th Street, with B1 and B8 bus routes nearby. The 86th Street shopping district is close by, along with restaurants, supermarkets, banks, schools, and other everyday services. The property is zoned R5.
Key Highlights
- Three‑unit residential property offered fully vacant
- Approximately 3,000 square feet of living space
- 20' x 100' 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
$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 - Fully vacant three-unit residence with flexible layouts, a walk-in basement, and a deck in Bensonhurst.
Where is this triplex located?
The property is located at 1673 83rd Street 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‑unit residential property offered fully vacant; Approximately 3,000 square feet of living space; 20' x 100' lot
