10-Unit Brick Apartment
For Sale
$4,950,000
1871 W 13th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size4,140 SF
Lot Size0.07 Acres
Price / SF$1,195
Days on Market53
Property Features for 1871 W 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
13
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 6, Bedroom 1, Bedroom 11, Bathroom 5, Bathroom 7, Bedroom 4, Bathroom 3, Bedroom 10, Bedroom 8, Bathroom 1, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 3, Bedroom 9, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 13, Bathroom 9, Bathroom 2, Bathroom 10, Bedroom 2
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Gravesend
Standard status
Active
Size
4,140 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
21352
Building Details
Year built
1930
Floors in Building
3
Number of units
11
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #40AN0957928
(718) 532-2000
Added: Jun 17
Changed: Aug 5
Last Checked: Aug 8 at 3:06PM
MLS# 502147
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.
Two side-by-side brick apartment buildings at 1871 and 1875 W 13th Street, Brooklyn, NY 11223, totaling 10 residential units: one 4-family building and one 6-family building. The properties are described as well-maintained and fully occupied, with a consistent rental history. Construction materials include brick, with a flat roof and hardwood flooring. Interior features include a refrigerator and stove. Parking is available via a detached garage.
The buildings sit on a 0.0723-acre lot and have a listed total property size of 4,140 square feet. Built in 1930, both buildings share the same core building profile and are presented as a package acquisition.
Access to transit is highlighted with proximity to the N and F subway lines, along with being moments from shopping, restaurants, and schools on a quiet, tree-lined block. The properties are zoned R5B.
The buildings sit on a 0.0723-acre lot and have a listed total property size of 4,140 square feet. Built in 1930, both buildings share the same core building profile and are presented as a package acquisition.
Access to transit is highlighted with proximity to the N and F subway lines, along with being moments from shopping, restaurants, and schools on a quiet, tree-lined block. The properties are zoned R5B.
Key Highlights
- Brick construction with flat roofs and hardwood flooring
- Package deal: 1871 and 1875 W 13th Street, side‑by‑side buildings
- Total of 10 units: one 4‑family and one 6‑family
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
$144,990
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
2.93%
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%
$2,899,800
$2.9M
Cap Rate 7%
$2,071,286
$2.1M
Cap Rate 9%
$1,611,000
$1.6M
Market Conditions
NOI Build-Up for 4,140 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
$211.1K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$207.1K $50.03/SF
− OpEx
−$62.1K −$15.01/SF
NOI
$145.0K $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%
$2,899,800
Cap Rate 7%
$2,071,286
Cap Rate 9%
$1,611,000
Alternative Uses
Best Use
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $144,990 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,390 @ 7.0% cap · market cap 2.55%
Theoretical Best
Specialty Retail
$3.43M
$3.00M – $4.00M
NOI $239,954 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,626
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two side-by-side brick multifamily buildings totaling 10 units are fully occupied and zoned R5B.
Where is this apartment building located?
The property is located at 1871 W 13th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Brick construction with flat roofs and hardwood flooring; Package deal: 1871 and 1875 W 13th Street, side‑by‑side buildings; Total of 10 units: one 4‑family and one 6‑family
