Detached Brick
For Sale
$1,599,000
2319 W 12th Street, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size4,275 SF
Lot Size0.07 Acres
Price / SF$374.04
Days on Market366
Property Features for 2319 W 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 4, Bathroom 2, Bedroom 7, Bathroom 1, Bedroom 1
Parking features
Garage - Attached
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Gravesend
Standard status
Active
Size
4,275 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10537
Amenities
private driveway
attached garage
high ceilings
fully finished basement
Building Details
Year built
1930
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(646) 937-2188
Added: Sep 10, 2025
Changed: Sep 6
Last Checked: Sep 10 at 5:06PM
MLS# 495630
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.
This fully detached brick quadplex, built in 1930, contains 4275 square feet across four legal apartments. The first floor has a one-bedroom unit at the front and a two-bedroom unit at the rear; the second floor includes two additional two-bedroom apartments. The property also includes seven bedrooms, four bathrooms, high ceilings, hardwood and tile flooring, and a finished basement that provides additional interior space or storage.
The 0.0689-acre parcel measures 30x100, with a 19x75 building footprint. A private driveway accommodates multiple vehicles, complemented by an attached garage. The property is near the D and N subway lines, schools, parks, and the 86th Street shopping district in Brooklyn.
The 0.0689-acre parcel measures 30x100, with a 19x75 building footprint. A private driveway accommodates multiple vehicles, complemented by an attached garage. The property is near the D and N subway lines, schools, parks, and the 86th Street shopping district in Brooklyn.
Key Highlights
- Four legal apartments with a one‑bedroom and three two‑bedroom units
- 4275 square feet on a 0.0689‑acre parcel
- 30x100 lot with a 19x75 building footprint
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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Current Use
Lease Details
4
Residential units
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
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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 - Four-family residence with private parking, attached garage, and finished basement.
Where is this quadplex located?
The property is located at 2319 W 12th Street 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: Four legal apartments with a one‑bedroom and three two‑bedroom units; 4275 square feet on a 0.0689‑acre parcel; 30x100 lot with a 19x75 building footprint
