Spacious Four-Family Home in
For Sale
$1,050,000
3711 Sea Gate Ave, Brooklyn, NY 11224
Large, bright, four two-bedroom apartments near the beach.
Property Size1,368 SF
Lot Size0.09 Acres
Price / SF$767.54
Days on Market108
Property Features for 3711 Sea Gate Ave
General Information
Standard status
Active
Size
1,368 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Listing Agency:
Ilite Realty Inc
(718) 975-0555
Listed By:
Ayzik Nasimov
(718) 975-0555
Source:
Elliman
Added: Apr 28
Changed: Jul 10
Last Checked: Aug 12 at 9:49AM
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 Ilite Realty Inc
Investment Insights
Based on property information with market context.
This is a large, fully-detached four-family home located in Seagate. The building measures 24 x 57 feet and sits on a 40 x 100 foot lot. The property is spacious and bright, featuring high ceilings and an abundance of natural light. It is suitable for relaxing, entertaining, or gardening. The property contains four two-bedroom apartments that are spacious and filled with natural light. The property is located moments from the beach and waterfront. Residents benefit from the privacy and security of Sea Gate, along with convenient access to local shopping, transportation, and neighborhood amenities. This property presents an excellent opportunity for investors or end users seeking steady rental income in one of Brooklyn’s unique coastal communities. The property is ideal for tenants or homeowners looking for accessibility and comfort. The high-demand area ensures strong occupancy rates, making it perfect for rental income. It is also great for multi-family living or expanding an investment portfolio. The bike score is 42, indicating it is somewhat bikeable. The transit score is 47, indicating some transit options are available. The walk score is 0, indicating car-dependent transportation.
Key Highlights
- Fully‑detached 4‑family home in Sea Gate
- Moments from the beach and waterfront
- Four spacious and bright two‑bedroom apartments
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
$47,910
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
4.56%
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%
$958,200
$958.2K
Cap Rate 7%
$684,429
$684.4K
Cap Rate 9%
$532,333
$532.3K
Market Conditions
NOI Build-Up for 1,368 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
$69.8K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$68.4K $50.03/SF
− OpEx
−$20.5K −$15.01/SF
NOI
$47.9K $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%
$958,200
Cap Rate 7%
$684,429
Cap Rate 9%
$532,333
Alternative Uses
Best Use
Multifamily LT 5
$684.4K
$598.9K – $798.5K
NOI $47,910 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$596.6K
$522.1K – $696.1K
NOI $41,764 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$1.13M
$991.1K – $1.32M
NOI $79,289 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
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?
Quadplex - Large, bright, four two-bedroom apartments near the beach.
Where is this quadplex located?
The property is located at 3711 Sea Gate Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully‑detached 4‑family home in Sea Gate; Moments from the beach and waterfront; Four spacious and bright two‑bedroom apartments
