Detached Brick Triplex with
For Sale
$1,895,000
2518 W 1st Street, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size1,800 SF
Lot Size0.07 Acres
Price / SF$1,052
Days on Market225
Property Features for 2518 W 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 5
Interior features
Alarm, Dishwasher, Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Gravesend
Standard status
Active
Size
1,800 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10450
Amenities
hardwood floors
tile flooring
updated appliances
full finished basement
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Brick, Wood Frame
Roof type
Rubber, Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 887-5708
Added: Feb 18
Changed: Sep 29
Last Checked: Oct 1 at 3:06PM
MLS# 499063
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 1,800-square-foot detached brick triplex was built in 1950 on a 30x100 lot and is zoned R4. The first floor contains a three-bedroom, two-bath unit, while the second floor is arranged as separate two-bedroom and one-bedroom apartments. A full finished basement adds usable interior space. Hardwood and tile flooring, a dishwasher, microwave, refrigerator, stove, alarm system, and updated appliances are included. The property also features a flat rubber roof and a private two-car garage suitable for parking and storage.
The home is located at 2518 W 1st Street in Brooklyn’s 11223 ZIP code, near Avenue Y and Avenue Z. It is being delivered vacant, providing flexibility for an owner-user, investor, or multigenerational household.
The home is located at 2518 W 1st Street in Brooklyn’s 11223 ZIP code, near Avenue Y and Avenue Z. It is being delivered vacant, providing flexibility for an owner-user, investor, or multigenerational household.
Key Highlights
- Three‑family detached brick residence with 1,800 square feet
- 30x100 lot with R4 zoning
- First‑floor three‑bedroom, two‑bath apartment
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
$63,039
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
3.33%
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%
$1,260,780
$1.3M
Cap Rate 7%
$900,557
$900.6K
Cap Rate 9%
$700,433
$700.4K
Market Conditions
NOI Build-Up for 1,800 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
$91.8K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$90.1K $50.03/SF
− OpEx
−$27.0K −$15.01/SF
NOI
$63.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,260,780
Cap Rate 7%
$900,557
Cap Rate 9%
$700,433
Alternative Uses
Best Use
Multifamily LT 5
$900.6K
$788.0K – $1.05M
NOI $63,039 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,328 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,407
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?
Triplex - Vacant three-family residence with flexible layouts, finished basement space, and private parking in Brooklyn.
Where is this triplex located?
The property is located at 2518 W 1st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Three‑family detached brick residence with 1,800 square feet; 30x100 lot with R4 zoning; First‑floor three‑bedroom, two‑bath apartment
