Six-Unit Apartment
For Sale
$1,799,000
1717 Voorhies Avenue, Brooklyn, NY 11235
Residential, Brooklyn, NY
Property Size4,800 SF
Lot Size0.05 Acres
Price / SF$374.79
Days on Market48
Property Features for 1717 Voorhies Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C4-2
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bedroom 3, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 6, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 8, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 2
Interior features
Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
4,800 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
20000
Building Details
Year built
1922
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Sumei Lan · License #SL4755
(718) 612-3088
Added: Aug 17
Changed: Sep 26
Last Checked: Oct 3 at 9:06AM
MLS# 503859
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 4,800-square-foot apartment building contains six units: four one-bedroom apartments and two two-bedroom apartments. The 1922 brick property measures 20 feet by 90 feet and sits on a 20-foot by 100-foot lot. Interior features include hardwood and tile flooring, along with refrigerators, stoves, and microwaves. A half-finished basement with its own entrance provides additional utility or storage space.
The property is located at 1717 Voorhies Avenue in Brooklyn’s Sheepshead Bay, between Sheepshead Road and Voorhies Avenue. Nearby surroundings include local shops, financial institutions, and public transportation options. The roof was replaced four years ago, and the property is zoned C4-2.
The property is located at 1717 Voorhies Avenue in Brooklyn’s Sheepshead Bay, between Sheepshead Road and Voorhies Avenue. Nearby surroundings include local shops, financial institutions, and public transportation options. The roof was replaced four years ago, and the property is zoned C4-2.
Key Highlights
- Six‑unit building with four one‑bedroom and two two‑bedroom apartments
- 4,800 square feet on a 20‑foot by 100‑foot lot; building dimensions are 20 feet by 90 feet
- Half‑finished basement with a separate 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
$146,539
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
8.15%
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%
$2,930,780
$2.9M
Cap Rate 7%
$2,093,414
$2.1M
Cap Rate 9%
$1,628,211
$1.6M
Market Conditions
NOI Build-Up for 4,800 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
$271.9K $56.64/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$266.4K $55.51/SF
− OpEx
−$119.9K −$24.98/SF
NOI
$146.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,930,780
Cap Rate 7%
$2,093,414
Cap Rate 9%
$1,628,211
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,539 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Check the figures for this property
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?
Apartment building - Brick multifamily property with a varied apartment mix, hardwood and tile flooring, and a separate-entry basement.
Where is this apartment building located?
The property is located at 1717 Voorhies Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Six‑unit building with four one‑bedroom and two two‑bedroom apartments; 4,800 square feet on a 20‑foot by 100‑foot lot; building dimensions are 20 feet by 90 feet; Half‑finished basement with a separate entrance
