4-Family Quadplex with
For Sale
$1,479,000
412 Montauk Avenue, Brooklyn, NY 11208
The property includes four renovated apartments, private parking, and a garage in Brooklyn.
Property Size1,680 SF
Price / SF$880.36
Days on Market112
Property Features for 412 Montauk Avenue
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
1,680 SF
Year Built
1930
Buildings
1
Listing Agency:
Corcoran Group
(718) 810-5104
Listed By:
IAN K PARKER · License #40PA1152722
(718) 810-5104
Source:
Miradorrealestate
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 9:22PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 4-family property at 412 Montauk Avenue contains four recently renovated two-bedroom, one-bathroom apartments. Built in 1930, the building retains pre-war character while offering beamed ceilings, high ceilings, hardwood floors, new windows, and substantial closet storage. A finished basement, private parking, and garage add functional space and convenience. The property also includes four gas meters and four electric meters and is being sold as-is.
Located in Brooklyn’s East New York neighborhood, the property benefits from access to area parks and transportation options connecting residents with New York City and surrounding destinations. The configuration combines four separately metered apartments with shared building improvements, making the asset suitable for multifamily ownership.
Located in Brooklyn’s East New York neighborhood, the property benefits from access to area parks and transportation options connecting residents with New York City and surrounding destinations. The configuration combines four separately metered apartments with shared building improvements, making the asset suitable for multifamily ownership.
Key Highlights
- Four renovated two‑bedroom, one‑bathroom apartments
- Private parking and garage
- Finished basement and new roof
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
$43,126
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
2.92%
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%
$862,520
$862.5K
Cap Rate 7%
$616,086
$616.1K
Cap Rate 9%
$479,178
$479.2K
Market Conditions
NOI Build-Up for 1,680 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
$64.5K $38.40/SF
− Vacancy
−$2.9K −$1.73/SF
EGI
$61.6K $36.67/SF
− OpEx
−$18.5K −$11.00/SF
NOI
$43.1K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$862,520
Cap Rate 7%
$616,086
Cap Rate 9%
$479,178
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.8K
NOI $43,126 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$548.6K
$480.0K – $640.0K
NOI $38,400 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.03M
$899.5K – $1.20M
NOI $71,957 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
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 - The property includes four renovated apartments, private parking, and a garage in Brooklyn.
Where is this quadplex located?
The property is located at 412 Montauk Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,479,000.
What are key features of this property?
This property features: Four renovated two‑bedroom, one‑bathroom apartments; Private parking and garage; Finished basement and new roof
