Four-Family Brick Income
For Sale
$1,968,000
Pending
1679 66th St, Brooklyn, NY 11204
Well-maintained four-family brick building with private driveway and three three-bedroom units plus one one-bedroom unit.
Property Size3,520 SF
Lot Size0.07 Acres
Days on Market135
Property Features for 1679 66th St
General Information
Standard status
Pending
Size
3,520 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,784
Building Details
Building Size
3,520 SF
Year Built
1931
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Tiger Realty
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(917) 708-9966
Source:
Elliman
Added: Apr 28
Changed: Aug 28
Last Checked: Sep 8 at 4:21AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This well-maintained four-family brick income property offers a private driveway and includes three spacious three-bedroom apartments and one one-bedroom apartment. All units are occupied. An unfinished basement adds additional space and potential.
The property sits on a 30’ x 100’ lot and includes a 22’ x 80’ building. It is located on 18th Avenue in Brooklyn, with convenient access to transportation, shopping, and restaurants.
The building’s current configuration provides four rental units with four separate apartment layouts, supporting an income-focused residential portfolio.
The property sits on a 30’ x 100’ lot and includes a 22’ x 80’ building. It is located on 18th Avenue in Brooklyn, with convenient access to transportation, shopping, and restaurants.
The building’s current configuration provides four rental units with four separate apartment layouts, supporting an income-focused residential portfolio.
Key Highlights
- 1931 four‑family brick building with three 3‑bedroom apartments and one 1‑bedroom apartment
- Private driveway and 30’ x 100’ lot with a 22’ x 80’ building size
- Annual gross income of $98,520 with $14,784 property taxes noted
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
$123,276
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
6.26%
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%
$2,465,520
$2.5M
Cap Rate 7%
$1,761,086
$1.8M
Cap Rate 9%
$1,369,733
$1.4M
Market Conditions
NOI Build-Up for 3,520 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
$179.5K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$176.1K $50.03/SF
− OpEx
−$52.8K −$15.01/SF
NOI
$123.3K $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%
$2,465,520
Cap Rate 7%
$1,761,086
Cap Rate 9%
$1,369,733
Alternative Uses
Best Use
Multifamily LT 5
$1.76M
$1.54M – $2.05M
NOI $123,276 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,462 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.40M
NOI $204,019 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-family brick building with private driveway and three three-bedroom units plus one one-bedroom unit.
Where is this quadplex located?
The property is located at 1679 66th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,968,000.
What are key features of this property?
This property features: 1931 four‑family brick building with three 3‑bedroom apartments and one 1‑bedroom apartment; Private driveway and 30’ x 100’ lot with a 22’ x 80’ building size; Annual gross income of $98,520 with $14,784 property taxes noted
