Renovated Brick Apartment
For Sale
$1,980,000
318 67th St, Brooklyn, NY 11220
Eight-unit multifamily property with individually metered apartments, basement storage, and on-site parking in Brooklyn’s Bay Ridge area.
Property Size4,320 SF
Days on Market126
Property Features for 318 67th St
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
3
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 2BR, 2 x 1BR
Multifamily Units
8
Additional Details
Gross Income
$125,000
Taxes and HOA fees
Annual Taxes
$21,511
Amenities
finished basement with additional storage
Building Details
Building Size
4,320 SF
Year Built
1925
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Real Broker, LLC
(718) 269-4598
Listed By:
Yongda (Simon) Liang · License #15254
(718) 269-4598
Source:
Elliman
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 30 at 6:47PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This eight-unit apartment building presents an all-brick exterior and a recently renovated interior. The unit mix includes six two-bedroom apartments and two one-bedroom apartments. Each apartment has separate gas and electric meters, while a finished basement provides additional storage. Three on-site parking spaces are included.
Built in 1925, the property is located at 318 67th St in Brooklyn’s Bay Ridge area, near transportation and restaurants. WalkScore is 74, BikeScore is 73, and TransitScore is 79, reflecting access to walking, cycling, and public transportation options.
Built in 1925, the property is located at 318 67th St in Brooklyn’s Bay Ridge area, near transportation and restaurants. WalkScore is 74, BikeScore is 73, and TransitScore is 79, reflecting access to walking, cycling, and public transportation options.
Key Highlights
- Eight apartments: six 2‑bedroom units and two 1‑bedroom units
- Recently renovated, all‑brick building
- Separate gas and electric meters for every 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
$115,200
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
5.82%
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%
$2,304,000
$2.3M
Cap Rate 7%
$1,645,714
$1.6M
Cap Rate 9%
$1,280,000
$1.3M
Market Conditions
NOI Build-Up for 4,320 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
$217.7K $50.40/SF
− Vacancy
−$8.3K −$1.92/SF
EGI
$209.5K $48.48/SF
− OpEx
−$94.3K −$21.82/SF
NOI
$115.2K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$2,304,000
Cap Rate 7%
$1,645,714
Cap Rate 9%
$1,280,000
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,200 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,038 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with individually metered apartments, basement storage, and on-site parking in Brooklyn’s Bay Ridge area.
Where is this apartment building located?
The property is located at 318 67th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Eight apartments: six 2‑bedroom units and two 1‑bedroom units; Recently renovated, all‑brick building; Separate gas and electric meters for every apartment
