Brick 4-Unit
For Sale
$1,998,000
1838 Bay Ridge Avenue, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size3,026 SF
Lot Size0.06 Acres
Price / SF$660.28
Days on Market571
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 3, Bathroom 2, Bathroom 1, Bathroom 4, 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
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Mar 10, 2025
Changed: Sep 16
Last Checked: Oct 1 at 2:06PM
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 semi-detached brick quadplex contains four separate units within a 3,026-square-foot property. The building measures 20x76, sits on a 25x100 lot, and includes a finished basement, shared driveway, flat roof, and tile flooring. Interior appliances include a refrigerator, stove, and dryer. The property was built in 1924 and includes five bathrooms.
Located at 1838 Bay Ridge Avenue in Brooklyn, the property is positioned near amenities and public transportation. R5 zoning supports its established residential configuration.
Located at 1838 Bay Ridge Avenue in Brooklyn, the property is positioned near amenities and public transportation. R5 zoning supports its established residential configuration.
Key Highlights
- Four separate residential units
- 3,026 square feet of property size
- 25x100 lot with 0.0574 acres
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
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Open Analytics
Current Use
Lease Details
4
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 property with a finished basement, shared driveway, and R5 zoning.
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 residential units; 3,026 square feet of property size; 25x100 lot with 0.0574 acres
