Six-Family Walk-Up Apartment
For Sale
$1,350,000
2348 82nd Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size4,380 SF
Lot Size0.05 Acres
Price / SF$308.22
Days on Market107
Property Features for 2348 82nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 1, Bathroom 4, Bedroom 9, Bedroom 7, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 8, Bathroom 5, Bedroom 6, Bathroom 6, Bedroom 4, Bathroom 2, Bedroom 3
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
4,380 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
18628
Building Details
Year built
1922
Floors in Building
3
Number of units
6
Flooring type
Tile, Hardwood
Building materials
Masonry
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Kelly Wu · License #10401268467
(917) 916-2368
Added: Jun 15
Changed: Sep 16
Last Checked: Sep 29 at 5:06AM
MLS# 502259
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 attached six-family walk-up apartment building contains six residential units: three one-bedroom apartments and three two-bedroom apartments. The property provides approximately 4,380 square feet of interior living space on a 20-foot by 100-foot lot, along with a full finished basement for storage and utility functions. Masonry construction, flat roofing, hardwood and tile flooring, refrigerators, and stoves are among the existing features. Separate electric and gas meters serve the apartments, and the building was constructed in 1922.
Located at 2348 82nd Street in Brooklyn, the property is near the commercial activity along 86th Street. Bus service includes the B1, B3, B4, B6, B64, and B82 lines, while the D and N subway lines provide additional transit connections. The property is zoned R5 and sits within ZIP Code 11214.
Located at 2348 82nd Street in Brooklyn, the property is near the commercial activity along 86th Street. Bus service includes the B1, B3, B4, B6, B64, and B82 lines, while the D and N subway lines provide additional transit connections. The property is zoned R5 and sits within ZIP Code 11214.
Key Highlights
- Six residential units with three one‑bedroom and three two‑bedroom apartments
- Approximately 4,380 square feet on a 20‑foot by 100‑foot lot
- Full finished basement provides additional storage and utility space
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
$107,067
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
7.93%
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%
$2,141,340
$2.1M
Cap Rate 7%
$1,529,529
$1.5M
Cap Rate 9%
$1,189,633
$1.2M
Market Conditions
NOI Build-Up for 4,380 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
$202.4K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$194.7K $44.44/SF
− OpEx
−$87.6K −$20.00/SF
NOI
$107.1K $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%
$2,141,340
Cap Rate 7%
$1,529,529
Cap Rate 9%
$1,189,633
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,067 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $178,855 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,812
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
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?
Apartment building - Attached masonry property with a finished basement, separate utility meters, and a six-unit residential configuration.
Where is this apartment building located?
The property is located at 2348 82nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six residential units with three one‑bedroom and three two‑bedroom apartments; Approximately 4,380 square feet on a 20‑foot by 100‑foot lot; Full finished basement provides additional storage and utility space
