Brick Corner
1983 W 7th St Brooklyn, NY 11223
For Sale
$1,568,000
Semi-attached four-family features four separate heating units and spacious three-bedroom layouts.
Property Size1,800 SF
Lot Size0.05 Acres
Price / SF$871.11
Days on Market55
Property Features for 1983 W 7th St
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Lot size
- 0.05 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1931
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Barbara Horan
(718) 612-3088
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 26 at 9:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This semi-attached brick corner four-family is situated on a 20 x 100 lot with a 20 x 90 building size. The property consists of four units, each with three bedrooms, one full bath, a dinette, a large living room, and a galley-style kitchen. The home is equipped with gas heat and four separate heating units, and the listing notes that the mechanics are in working order. The property is offered for sale “as is.” Two units can be delivered vacant, while two units are currently occupied, and no leases are in place.
The address is 1983 W 7th St in Brooklyn, NY 11223. The listing also references convenient access to nearby shopping, restaurants, and transportation, including the B3 bus and N and D train service.
For investors and owner-users, the unit mix provides consistent 3-bedroom, 1-bath layouts across all four apartments, with separate heating systems for each unit. With the flexibility of two vacant units at delivery and two currently occupied units without existing leases, the property may fit buyers looking for straightforward rent-ready repositioning following their own due diligence. Prequalification and proof of funds are required at the owner’s request.
The address is 1983 W 7th St in Brooklyn, NY 11223. The listing also references convenient access to nearby shopping, restaurants, and transportation, including the B3 bus and N and D train service.
For investors and owner-users, the unit mix provides consistent 3-bedroom, 1-bath layouts across all four apartments, with separate heating systems for each unit. With the flexibility of two vacant units at delivery and two currently occupied units without existing leases, the property may fit buyers looking for straightforward rent-ready repositioning following their own due diligence. Prequalification and proof of funds are required at the owner’s request.
Key Highlights
- Semi‑attached brick corner 4‑family built in 1931 on a 20 x 100 lot with a 20 x 90 building size
- Each unit has 3 bedrooms, 1 full bath, dinette, large living room, and a galley‑style kitchen
- Gas heat with 4 separate heating units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.8k | $51.00 |
| − Vacancy | −$1.7k | −$0.97 |
| EGI | $90.1k | $50.03 |
| − OpEx | −$27.0k | −$15.01 |
| NOI | $63.0k | $35.02 |
1,800 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$900.6K
$788.0K – $1.05M
NOI $63,039 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,328 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
nyc fines
Car Dealership
FAQs
What type of property is this?
Quadplex - Semi-attached four-family features four separate heating units and spacious three-bedroom layouts.
Where is this quadplex located?
The property is located at 1983 W 7th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,568,000.
What are key features of this property?
This property features: Semi‑attached brick corner 4‑family built in 1931 on a 20 x 100 lot with a 20 x 90 building size; Each unit has 3 bedrooms, 1 full bath, dinette, large living room, and a galley‑style kitchen; Gas heat with 4 separate heating units
