Detached Four-Unit
For Sale
$1,050,000
3711 Sea Gate Avenue, Brooklyn, NY 11224
Residential, Brooklyn, NY
Property Size2,737 SF
Lot Size0.09 Acres
Price / SF$383.63
Days on Market210
Property Features for 3711 Sea Gate Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 8, Bedroom 2, Bathroom 3, Bathroom 4, Bathroom 1
Parking features
Garage - Detached
Interior features
A/C Unit - Window, Garage Door Opener(s), Refrigerator, Stove, Window Treatments
Basement
Finished
Subdivision
Seagate
Standard status
Active
Size
2,737 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
13191
Building Details
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Tile
Building materials
Block
Roof type
Asphalt
Listing Agency:
Ilite Realty Inc
Listed By:
Ayzik Nasimov
(718) 975-0555
Added: Feb 19
Changed: Sep 15
Last Checked: Sep 17 at 3:06PM
MLS# 499057
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 fully detached quadplex contains four two-bedroom apartments within a 2,737-square-foot building. The property sits on a 40 X 100 ft lot and features high ceilings, hardwood and tile flooring, window air-conditioning units, refrigerators, stoves, and window treatments. A detached garage provides additional on-site parking and includes a garage door opener. The asphalt roof and block construction add to the building's established physical profile.
The property is located at 3711 Sea Gate Avenue in Brooklyn's Sea Gate community, near the beach and waterfront. Local shopping, transportation, and neighborhood amenities are also nearby. R3-1 zoning and the four-apartment configuration support its multifamily use.
The property is located at 3711 Sea Gate Avenue in Brooklyn's Sea Gate community, near the beach and waterfront. Local shopping, transportation, and neighborhood amenities are also nearby. R3-1 zoning and the four-apartment configuration support its multifamily use.
Key Highlights
- Four two‑bedroom apartments in a fully detached quadplex
- 2,737 square feet on a 40 X 100 ft lot
- R3‑1 zoning
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
$95,854
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
9.13%
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%
$1,917,080
$1.9M
Cap Rate 7%
$1,369,343
$1.4M
Cap Rate 9%
$1,065,044
$1.1M
Market Conditions
NOI Build-Up for 2,737 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
$139.6K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$136.9K $50.03/SF
− OpEx
−$41.1K −$15.01/SF
NOI
$95.9K $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%
$1,917,080
Cap Rate 7%
$1,369,343
Cap Rate 9%
$1,065,044
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $95,854 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,558 @ 7.0% cap · market cap 7.96%
Theoretical Best
Specialty Retail
$2.27M
$1.98M – $2.64M
NOI $158,637 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
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
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?
Quadplex - R3-1-zoned property with four two-bedroom apartments, natural light, and access to beachside and waterfront amenities.
Where is this quadplex located?
The property is located at 3711 Sea Gate Avenue 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: Four two‑bedroom apartments in a fully detached quadplex; 2,737 square feet on a 40 X 100 ft lot; R3‑1 zoning
