Brick Quadplex with Finished
For Sale
$1,998,000
1838 Bay Ridge Avenue, Brooklyn, NY 11204
MULTI_FAMILY - Brooklyn, NY
Property Size3,026 SF
Lot Size0.06 Acres
Price / SF$660.28
Days on Market522
Property Features for 1838 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
5
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 5
Interior features
Dryer, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
3,026 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
15964
Building Details
Year built
1924
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Mar 10, 2025
Changed: Aug 4
Last Checked: Aug 13 at 6:06PM
MLS# 489850
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 well-maintained semi-detached brick quadplex offers four separate units, supported by a finished basement and a shared driveway. The building features a tile flooring package and includes in-unit appliances such as a refrigerator, stove, and dryer. The property is built on a 25x100 lot and the house measures 20x76, creating additional outdoor space.
Constructed in 1924, the property has a flat roof and a residential layout with multiple bathrooms (Bathroom 1 through Bathroom 5 listed). The home is located at 1838 Bay Ridge Avenue in Brooklyn, NY 11204, within Kings County, with convenient access to amenities and public transportation.
For buyers seeking a multi-unit residential setup, the four-unit configuration and finished basement provide an immediate multi-family structure for either ongoing rental use or owner-occupancy with rental income.
Constructed in 1924, the property has a flat roof and a residential layout with multiple bathrooms (Bathroom 1 through Bathroom 5 listed). The home is located at 1838 Bay Ridge Avenue in Brooklyn, NY 11204, within Kings County, with convenient access to amenities and public transportation.
For buyers seeking a multi-unit residential setup, the four-unit configuration and finished basement provide an immediate multi-family structure for either ongoing rental use or owner-occupancy with rental income.
Key Highlights
- Four separate units in a semi‑detached brick quadplex
- Finished basement plus shared driveway
- House size 20x76 with lot size 25x100
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
$105,976
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
5.30%
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%
$2,119,520
$2.1M
Cap Rate 7%
$1,513,943
$1.5M
Cap Rate 9%
$1,177,511
$1.2M
Market Conditions
NOI Build-Up for 3,026 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
$154.3K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$151.4K $50.03/SF
− OpEx
−$45.4K −$15.01/SF
NOI
$106.0K $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 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%
$2,119,520
Cap Rate 7%
$1,513,943
Cap Rate 9%
$1,177,511
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.77M
NOI $105,976 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,381 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$2.51M
$2.19M – $2.92M
NOI $175,387 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Semi-detached brick quadplex with 4 separate units, finished basement, and a shared driveway in Brooklyn.
Where is this quadplex located?
The property is located at 1838 Bay Ridge Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Four separate units in a semi‑detached brick quadplex; Finished basement plus shared driveway; House size 20x76 with lot size 25x100
