Detached Triplex with Finished
For Sale
$1,949,000
1844 W 11th Street, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size3,000 SF
Lot Size0.08 Acres
Price / SF$649.67
Days on Market50
Property Features for 1844 W 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, Stove
Basement
Finished, Full
Subdivision
Gravesend
Standard status
Active
Size
3,000 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
11483
Amenities
split-unit air conditioning
full finished basement
detached garage
private driveway
fenced backyard
hardwood and tile flooring
gas heat with steam radiators
additional storage rooms
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Peter Pan · License #10401215383
(347) 575-1849
Added: Jul 30
Changed: Sep 16
Last Checked: Sep 17 at 1:06PM
MLS# 503340
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 detached triplex contains approximately 3,000 square feet of living space across three apartments: one with 3 bedrooms and 1 bath, another with 4 bedrooms and 1 bath, and a 1-bedroom, 1-bath unit. Each apartment has a separate split-unit air-conditioning system, while the home also includes gas heat with steam radiators, hardwood and tile flooring, and a full finished basement with additional storage rooms. The property was built in 1925 with a brick-faced exterior, wood-frame construction, poured concrete foundation, and shingle roof.
Situated at 1844 W 11th Street in Brooklyn, the home occupies a 33' x 100' lot and includes a detached garage, private driveway, fenced backyard, and parking for six or more vehicles. All three apartments are vacant with no leases in place. R4A zoning, proximity to shopping, restaurants, schools, parks, and public transportation, including the F train and multiple bus lines, add to the property's practical flexibility. Ocean Parkway and the Belt Parkway are also nearby.
Situated at 1844 W 11th Street in Brooklyn, the home occupies a 33' x 100' lot and includes a detached garage, private driveway, fenced backyard, and parking for six or more vehicles. All three apartments are vacant with no leases in place. R4A zoning, proximity to shopping, restaurants, schools, parks, and public transportation, including the F train and multiple bus lines, add to the property's practical flexibility. Ocean Parkway and the Belt Parkway are also nearby.
Key Highlights
- Detached three‑family property on a 33' x 100' lot
- Approximately 3,000 square feet with 3 vacant apartments
- Unit mix: 3‑bedroom, 1‑bath; 4‑bedroom, 1‑bath; and 1‑bedroom, 1‑bath
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
$105,065
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
5.39%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,765
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three vacant apartments provide flexibility for ownership, market-rate rentals, or multigenerational living.
Where is this triplex located?
The property is located at 1844 W 11th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Detached three‑family property on a 33' x 100' lot; Approximately 3,000 square feet with 3 vacant apartments; Unit mix: 3‑bedroom, 1‑bath; 4‑bedroom, 1‑bath; and 1‑bedroom, 1‑bath
