Spacious Brooklyn Four-Family
1983 W 7th Street Brooklyn, NY 11223
For Sale
$1,568,000
MULTI_FAMILY - Brooklyn, NY
Property Size3,600 SF
Lot Size0.05 Acres
Price / SF$435.56
Days on Market61
Property Features for 1983 W 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
r5b
Bedrooms
12
Bathrooms
4
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 10, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 12, Bedroom 8, Bedroom 11, Bathroom 2, Bathroom 4, Bedroom 9, Bedroom 7, Bedroom 3
Interior features
Stove
Basement
Unfinished, Finished
Standard status
Active
Size
3,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
20799
Building Details
Year built
1931
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Barbara Horan
(718) 612-3088
Added: May 28
Last Checked: Jul 27 at 2:06PM
MLS# 501799
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.
Located in Gravesend, Brooklyn, this semi-attached brick corner four-family property presents an opportunity for investors and end-users. The building, situated on a 20 x 100 lot, features a 20 x 90 building size. Each of the four units includes 3 bedrooms, 1 full bath, a dinette, a large living room, and a galley-style kitchen. The property features bright, airy rooms throughout. Two units can be delivered vacant, while the other two are currently occupied without leases. The property uses gas heat with 4 separate heating units. The mechanics are in working order. The property is being sold 'As Is'. The property is near shopping, restaurants, and transportation, with access to the B3 bus, N train, and D train. The property size is 3,600 square feet and the lot size is 0.0459 acres.
Key Highlights
- Four‑family brick corner property in prime Gravesend location.
- Two units delivered vacant, offering immediate income potential or owner occupancy.
- Large building size (20 x 90) on a 20 x 100 lot.
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 | $183.6k | $51.00 |
| − Vacancy | −$3.5k | −$0.97 |
| EGI | $180.1k | $50.03 |
| − OpEx | −$54.0k | −$15.01 |
| NOI | $126.1k | $35.02 |
3,600 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 7.01%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Rare Gravesend investment opportunity with income potential and convenient location.
Where is this quadplex located?
The property is located at 1983 W 7th Street 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: Four‑family brick corner property in prime Gravesend location.; Two units delivered vacant, offering immediate income potential or owner occupancy.; Large building size (20 x 90) on a 20 x 100 lot.
