Renovated Multifamily in Bay
318 67th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property size:
4,320 SFLot size:
0.09 AcresPrice / SF:
$458/SF- Added:
- Jul 26, 2024
- Days on Market:
- 667
- Last Refresh:
- May 23 at 12:06 am
Property Features for 318 67th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 9
- Rooms
- Bathroom 7, Bathroom 5, Bathroom 3, Bathroom 2, Bathroom 9, Bathroom 6, Bathroom 1, Bathroom 4, Bathroom 8
- Interior features
- A/C Unit - Window
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 4,320 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 21511
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Number of units
- 8
- Flooring type
- Hardwood, Laminate
- Building materials
- Block, Brick
- Roof type
- Flat
Listing agent Yongda (Simon) Liang (718) 269-4598
Listing office Real Broker NY LLC 7610 13th Ave, Brooklyn, NY (718) 256-4000
Listing date Jul 26, 2024
MLS# 484859
Listing URL
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.
HighLights
- Excellent condition, recently renovated 8‑family brick building.
- Located in the desirable Bay Ridge area.
- Gross annual income of $125,000 with $43,400 expenses.
- Individual gas and electric meters for each apartment.
- Includes 3‑car parking space and finished basement with storage.
- Close to transportation and restaurants.
Overview
This is an 8-family house in Bay Ridge, Brooklyn. The all-brick building is in excellent condition and was recently renovated. It consists of six 2-bedroom apartments and two 1-bedroom apartments. The property has a finished basement with additional storage and 3 parking spaces. Each apartment has individual gas and electric meters. The lot size is 0.0918 acres, and the property size is 4,320 square feet. The property is close to transportation and restaurants. The gross income is $125,000, and the gross expenses are $43,400. The property is suitable for end-users seeking steady income and has the potential for rent increases.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.28M
NOI $115,200 @ 9.00% cap · cautious / downside scenario
Moderate
$1.65M
NOI $115,200 @ 7.00% cap · market / base-case scenario
Aggressive
$2.30M
NOI $115,200 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $217.7k | $50.40 |
| − Vacancy | −$8.3k | −$1.92 |
| EGI | $209.5k | $48.48 |
| − OpEx | −$94.3k | −$21.82 |
| NOI | $115.2k | $26.67 |
4,320 SF · lease $50.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.024542
- Latitude
- 40.637334
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated 8-unit multifamily property in desirable Bay Ridge, Brooklyn.
Where is this apartment building located?
The property is located at 318 67th Street 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: Excellent condition, recently renovated 8‑family brick building.; Located in the desirable Bay Ridge area.; Gross annual income of $125,000 with $43,400 expenses.
