Brick 4-Family
For Sale
$1,800,000
1687 83rd Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size3,198 SF
Lot Size0.08 Acres
Price / SF$562.85
Days on Market491
Property Features for 1687 83rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
5
Full bathrooms
4
Rooms
Bathroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4
Interior features
Laundry Area, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
3,198 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
15195
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Laminate, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Frank J. Bergen
(718) 612-3088
Added: Jun 17, 2025
Changed: Oct 19
Last Checked: Oct 20 at 8:06AM
MLS# 493528
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.
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Investment Insights
Based on property information with market context.
This 3,198-square-foot brick building contains four apartments: three with two bedrooms and one with three. The finished basement provides additional storage space. Hardwood, laminate, and tile flooring are present, along with a laundry area, refrigerator, stove, and washer. The property was built in 1931 and is zoned R5.
Set on a 0.0771-acre lot in Brooklyn, the residence is near public transportation, schools, parks, shops, and dining options. The property is to be sold with one tenant.
Set on a 0.0771-acre lot in Brooklyn, the residence is near public transportation, schools, parks, shops, and dining options. The property is to be sold with one tenant.
Key Highlights
- Four apartments: three two‑bedroom units and one three‑bedroom unit
- 3,198 square feet in a brick building
- Finished basement with additional storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,225
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,744,500
$1.7M
Cap Rate 7%
$1,246,071
$1.2M
Cap Rate 9%
$969,167
$969.2K
Market Conditions
NOI Build-Up for 3,198 SF
Gross rent
$130.5K $40.80/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$124.6K $38.96/SF
− OpEx
−$37.4K −$11.69/SF
NOI
$87.2K $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 Rate 5%
$1,744,500
Cap Rate 7%
$1,246,071
Cap Rate 9%
$969,167
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.45M
NOI $87,225 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$1.12M
$977.2K – $1.30M
NOI $78,173 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,589 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Single-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Three two-bedroom apartments and one three-bedroom unit provide a defined mix of living spaces.
Where is this quadplex located?
The property is located at 1687 83rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Four apartments: three two‑bedroom units and one three‑bedroom unit; 3,198 square feet in a brick building; Finished basement with additional storage space
