Gravesend Four-Family Home with
For Sale
$1,599,000
2319 W 12th St, Brooklyn, NY 11223
Legal four-family home in prime Gravesend location near amenities.
Property Size4,275 SF
Lot Size0.07 Acres
Days on Market186
Property Features for 2319 W 12th St
General Information
Standard status
Active
Size
4,275 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,537
Building Details
Building Size
4,275 SF
Year Built
1930
Stories
2
Listing Agency:
RE/MAX Edge
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: Mar 10
Changed: Sep 9
Last Checked: Sep 10 at 9:57AM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
Located in the heart of the Gravesend neighborhood, this fully detached, legal four-family brick home sits on a 30x100 lot with a 19x75 building. The property features a private driveway with parking for multiple cars plus an attached garage. The home offers high ceilings and a smart layout. The first floor includes a one-bedroom apartment in the front and a two-bedroom apartment in the rear, while the second floor mirrors this with another two-bedroom front and two-bedroom rear unit. A fully finished basement provides additional space or storage. Ideally situated near the D and N subway lines, schools, parks, and the vibrant 86th Street shopping district, this property combines lifestyle and convenience. The property is located in Brooklyn, New York. This property is suitable as a high cash-flow investment or a spacious residence for extended family.
Key Highlights
- Legal four‑family detached brick home in prime Gravesend location
- Private driveway with parking for multiple cars plus attached garage
- High cash‑flow investment opportunity or spacious residence for extended 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
$130,511
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
8.16%
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%
$2,610,220
$2.6M
Cap Rate 7%
$1,864,443
$1.9M
Cap Rate 9%
$1,450,122
$1.5M
Market Conditions
NOI Build-Up for 4,275 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
$242.1K $56.64/SF
− Vacancy
−$4.8K −$1.13/SF
EGI
$237.3K $55.51/SF
− OpEx
−$106.8K −$24.98/SF
NOI
$130.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,610,220
Cap Rate 7%
$1,864,443
Cap Rate 9%
$1,450,122
Alternative Uses
Best Use
Multifamily LT 5
$2.14M
$1.87M – $2.50M
NOI $149,718 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$1.86M
$1.63M – $2.18M
NOI $130,511 @ 7.0% cap · market cap 8.16%
Theoretical Best
Specialty Retail
$3.54M
$3.10M – $4.13M
NOI $247,779 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,371
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal four-family home in prime Gravesend location near amenities.
Where is this quadplex located?
The property is located at 2319 W 12th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Legal four‑family detached brick home in prime Gravesend location; Private driveway with parking for multiple cars plus attached garage; High cash‑flow investment opportunity or spacious residence for extended family
