Six-Family Corner Apartment
For Sale
$1,538,000
Pending
2101 76th St, Brooklyn, NY 11214
Six-unit corner property with rear parking and a new boiler, offering flexibility for investors or owner-occupants.
Property Size4,797 SF
Days on Market99
Property Features for 2101 76th St
General Information
Standard status
Pending
Size
4,797 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$21,258
Building Details
Building Size
4,797 SF
Year Built
1931
Stories
3
Listing Agency:
Tiger Realty
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(917) 708-9966
Source:
Elliman
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 8 at 7:00AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This well-maintained six-family corner building is configured for residential rental use, with six separate apartments. The property includes two parking spots located in the rear, a practical feature for tenants and for day-to-day access. Building systems and exterior components have been updated and maintained, including a new oil boiler that can be converted to gas, and a roof reported in excellent condition.
Mobility and daily convenience are supported by reported walk and transit metrics, with a Walk Score of 96 and a Transit Score of 84, along with a Bike Score of 56. Two apartments are planned to be delivered vacant at closing, which can help support a smoother transition for buyers looking to reposition units or establish occupancy quickly.
For investors, the building provides a straightforward six-unit structure designed to operate as income-producing housing, with the benefit of vacancy at closing for two units. For an owner-occupant, the layout can accommodate living in one unit while renting others to help offset operating costs. Overall, the combination of maintained core components, rear parking, and closing-time vacancies supports a practical path for either operating model.
Mobility and daily convenience are supported by reported walk and transit metrics, with a Walk Score of 96 and a Transit Score of 84, along with a Bike Score of 56. Two apartments are planned to be delivered vacant at closing, which can help support a smoother transition for buyers looking to reposition units or establish occupancy quickly.
For investors, the building provides a straightforward six-unit structure designed to operate as income-producing housing, with the benefit of vacancy at closing for two units. For an owner-occupant, the layout can accommodate living in one unit while renting others to help offset operating costs. Overall, the combination of maintained core components, rear parking, and closing-time vacancies supports a practical path for either operating model.
Key Highlights
- Six‑family corner building built in 1931
- Includes two rear parking spots
- New oil boiler that can be easily converted to gas
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
$117,260
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
7.62%
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%
$2,345,200
$2.3M
Cap Rate 7%
$1,675,143
$1.7M
Cap Rate 9%
$1,302,889
$1.3M
Market Conditions
NOI Build-Up for 4,797 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
$221.6K $46.20/SF
− Vacancy
−$8.4K −$1.76/SF
EGI
$213.2K $44.44/SF
− OpEx
−$95.9K −$20.00/SF
NOI
$117.3K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,345,200
Cap Rate 7%
$1,675,143
Cap Rate 9%
$1,302,889
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.95M
NOI $117,260 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,883 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
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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?
Apartment building - Six-unit corner property with rear parking and a new boiler, offering flexibility for investors or owner-occupants.
Where is this apartment building located?
The property is located at 2101 76th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,538,000.
What are key features of this property?
This property features: Six‑family corner building built in 1931; Includes two rear parking spots; New oil boiler that can be easily converted to gas
