Building Details

Building Size 1,680 SF

Year Built 1930

Buildings 1

Listing Agency: Corcoran Group

Listed By: IAN K PARKER · License #40PA1152722 Show Phone

Source: Carlinwright

Added: May 12 Changed: Oct 12 Last Checked: Oct 15 at 4:59AM

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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

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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.

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 / Yr

$43,126

Cap Rate

2.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$862,520 $862.5K

Cap Rate 7%

$616,086 $616.1K

Cap Rate 9%

$479,178 $479.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

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 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 (±1% cap)

NOI $43,126 @ 7.0% cap · market cap 2.92%

Second Best

Apartment 5plus

$548.6K

$480.0K – $640.0K (±1% cap)

NOI $38,400 @ 7.0% cap · market cap 2.60%

Theoretical Best

Office A

$1.03M

$899.5K – $1.20M (±1% cap)

NOI $71,957 @ 7.0% cap · market cap 4.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Gym & Fitness Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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