Building Details

Year Built 1925

Listing Agency: RE/MAX Edge

Listed By: Michelle J. Zhang · License #MZ4172 Show Phone

Source: Exitrealty

Added: Jan 9, 2025 Changed: Sep 10 Last Checked: Sep 15 at 4:15AM

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Investment Insights

Based on property information with market context.

This large, semi-detached four-family home is situated in a prime location on 18th Avenue. The building measures 21 x 80 ft and sits on a 28 x 100 ft lot. The property features spacious, bright apartments with high ceilings and abundant natural light. It includes three two-bedroom apartments, some of which have been updated and are move-in ready, and one three-bedroom apartment that is also spacious and filled with natural light. A beautiful backyard provides space for relaxing, entertaining, or gardening. The property is located minutes from the D and N subway lines, offering convenient commuting options. It is also close to various amenities, including restaurants, supermarkets, and banks. The highly convenient neighborhood is ideal for tenants or homeowners seeking accessibility and comfort. This property is perfect for generating rental income in a high-demand area with strong occupancy rates, making it a great opportunity for multi-family living or expanding an investment portfolio.

Key Highlights

• Prime 18th Avenue Location
• Four‑Family Semi‑Detached Home: Great for multi‑family living or investment.
• Three Two‑Bedroom Apartments and One Three‑Bedroom Apartment.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$176,509

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,530,180 $3.5M

Cap Rate 7%

$2,521,557 $2.5M

Cap Rate 9%

$1,961,211 $2.0M

Market Conditions

NOI Build-Up for 5,040 SF

Gross rent

$257.0K $51.00/SF

− Vacancy

−$4.9K −$0.97/SF

EGI

$252.2K $50.03/SF

− OpEx

−$75.6K −$15.01/SF

NOI

$176.5K $35.02/SF

Area

Brooklyn, NY

Vacancy

1.90%

Lease Rate

$51.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,530,180

Cap Rate 7%

$2,521,557

Cap Rate 9%

$1,961,211

Alternative Uses

Best Use

Multifamily LT 5

$2.52M

$2.21M – $2.94M (±1% cap)

NOI $176,509 @ 7.0% cap · market cap 8.83%

Second Best

Apartment 5plus

$2.20M

$1.92M – $2.56M (±1% cap)

NOI $153,866 @ 7.0% cap · market cap 7.69%

Theoretical Best

Specialty Retail

$4.17M

$3.65M – $4.87M (±1% cap)

NOI $292,118 @ 7.0% cap · market cap 14.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Hotel & Motel Gym & Fitness Center Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,853

Businesses Nearby

Explore this area Business Placement

Demographics for 11204, NY

85,885

Population

27,498

Households

3.1

Avg Household Size

34

Median Age

30%

College-Educated

74%

High-School Grad

1.6 sq mi

ZIP Area

53,678

Density / Sq Mi

$67,588

Median Household Income

$33,461

Median Earnings

$1,751

Median Rent

$1,097,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Large, semi-detached home in prime location with strong rental potential.

Where is this quadplex located?

The property is located at 1764 70th Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,999,900.

What are key features of this property?

This property features: Prime 18th Avenue Location; Four‑Family Semi‑Detached Home: Great for multi‑family living or investment.; Three Two‑Bedroom Apartments and One Three‑Bedroom Apartment.