Six-Unit Brick Apartment
For Sale
$1,780,000
1738 79th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size5,250 SF
Lot Size0.06 Acres
Price / SF$339.05
Days on Market659
Property Features for 1738 79th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 1, Bedroom 7, Bedroom 11, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 5, Bedroom 6, Bathroom 1, Bedroom 9, Bedroom 12, Bedroom 5, Bedroom 8, Bedroom 10, Bathroom 4, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
5,250 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
19274
Building Details
Year built
1931
Floors in Building
3
Number of units
6
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Dec 14, 2024
Changed: Sep 16
Last Checked: Oct 4 at 10:06AM
MLS# 488069
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.
Located at 1738 79th Street in Brooklyn, this three-story apartment building contains six two-bedroom residences with a total of 12 bedrooms and six bathrooms. The 5,250-square-foot structure was built in 1931 and features brick construction, tile flooring, refrigerators, and stoves. Each apartment is described as having a two-bedroom layout with strong natural light.
The building measures 25 x 70, while the lot measures 25 x 100 and encompasses 0.0574 acres. The property is zoned R5 and has a flat roof. Recent improvements include repointed exterior brickwork and a roof replaced within the last few years. The asset is situated in Brooklyn, NY 11214, in Kings County.
The building measures 25 x 70, while the lot measures 25 x 100 and encompasses 0.0574 acres. The property is zoned R5 and has a flat roof. Recent improvements include repointed exterior brickwork and a roof replaced within the last few years. The asset is situated in Brooklyn, NY 11214, in Kings County.
Key Highlights
- Six‑unit apartment building with six two‑bedroom apartments
- 5,250 square feet on a 0.0574‑acre lot
- Three‑story brick construction built in 1931
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
$128,333
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
7.21%
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%
$2,566,660
$2.6M
Cap Rate 7%
$1,833,329
$1.8M
Cap Rate 9%
$1,425,922
$1.4M
Market Conditions
NOI Build-Up for 5,250 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
$242.6K $46.20/SF
− Vacancy
−$9.2K −$1.76/SF
EGI
$233.3K $44.44/SF
− OpEx
−$105.0K −$20.00/SF
NOI
$128.3K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$2,566,660
Cap Rate 7%
$1,833,329
Cap Rate 9%
$1,425,922
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.14M
NOI $128,333 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,381 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,085
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick property with six two-bedroom apartments, tile flooring, and included refrigerators and stoves.
Where is this apartment building located?
The property is located at 1738 79th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Six‑unit apartment building with six two‑bedroom apartments; 5,250 square feet on a 0.0574‑acre lot; Three‑story brick construction built in 1931
