Solid Brick Six-Family
For Sale
$1,750,000
1748 79th St, Brooklyn, NY 11214
Spacious six-family home in transit-rich neighborhood with recent upgrades.
Property Size5,250 SF
Lot Size0.06 Acres
Days on Market171
Property Features for 1748 79th St
General Information
Standard status
Active
Size
5,250 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$19,267
Building Details
Building Size
5,250 SF
Year Built
1931
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Yuexin Chen
(718) 612-3088
Source:
Elliman
Added: Mar 12
Changed: Aug 19
Last Checked: Aug 28 at 2:11PM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This solid brick six-family home, with dimensions of 25' x 70', is situated on a 25' x 100' lot. The building spans three full stories plus a basement, providing a commanding and spacious layout. Each of the six units includes 2 bedrooms and 1 bathroom, featuring sunny, well-designed floorplans. Each unit is equipped with its own gas boiler/furnace and water heater, enabling tenant-level control and allowing for efficient submetering. The property has been meticulously maintained, with recent brick repointing and a roof replacement completed within the past few years, significantly reducing deferred maintenance. Located in a high-demand, transit-rich neighborhood, the building offers immediate access to high-performing schools, supermarkets, and train lines.
Key Highlights
- Six 2bed/1bath units, each with individual gas boiler/furnace and water heater for tenant‑level control.
- Meticulously maintained with recent brick repointing and roof replacement.
- Located in a high‑demand, transit‑rich neighborhood.
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
7.33%
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 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,381 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Spacious six-family home in transit-rich neighborhood with recent upgrades.
Where is this apartment building located?
The property is located at 1748 79th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six 2bed/1bath units, each with individual gas boiler/furnace and water heater for tenant‑level control.; Meticulously maintained with recent brick repointing and roof replacement.; Located in a high‑demand, transit‑rich neighborhood.
