Six-Unit Brick Apartment
For Sale
$1,750,000
1748 79th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size5,250 SF
Lot Size0.06 Acres
Price / SF$333.33
Days on Market446
Property Features for 1748 79th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 2, Bathroom 6, Bathroom 4, Bathroom 1, Bathroom 3
Interior features
Refrigerator
Basement
Unfinished
Subdivision
Bensonhurst
Standard status
Active
Size
5,250 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
19267
Building Details
Year built
1931
Floors in Building
3
Number of units
6
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Yuexin Chen
(718) 612-3088
Added: Jul 15, 2025
Changed: Sep 16
Last Checked: Oct 3 at 7:06AM
MLS# 494234
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 six-unit apartment building contains six two-bedroom, one-bath residences across three full stories and a basement. The 5,250-square-foot brick structure was built in 1931 and occupies a 0.0574-acre lot measuring 25 by 100 feet, with a 25-by-70-foot building footprint. Each apartment has its own gas boiler or furnace and water heater, supporting separate utility control and submetering. Interior features include hardwood and tile flooring, refrigerators, and six bathrooms.
Recent improvements include brick repointing and roof replacement completed within the past few years. The property is located at 1748 79th Street in Brooklyn, NY 11214, within zoning district R5. It is near schools, supermarkets, and train lines.
Recent improvements include brick repointing and roof replacement completed within the past few years. The property is located at 1748 79th Street in Brooklyn, NY 11214, within zoning district R5. It is near schools, supermarkets, and train lines.
Key Highlights
- Six 2‑bedroom, 1‑bath apartments in a 5,250‑square‑foot building
- Three full stories plus a basement on a 0.0574‑acre lot
- Each unit has its own gas boiler or furnace and water heater
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
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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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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 - Three-story multifamily property with individually equipped units and a finished basement.
Where is this apartment building located?
The property is located at 1748 79th Street 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 2‑bedroom, 1‑bath apartments in a 5,250‑square‑foot building; Three full stories plus a basement on a 0.0574‑acre lot; Each unit has its own gas boiler or furnace and water heater
