Brick Triplex with
For Sale
$1,599,000
414 48th Street, Brooklyn, NY 11220
Three occupied residential units provide month-to-month tenancy and a two-bedroom, three-bedroom unit mix.
Property Size2,700 SF
Lot Size0.05 Acres
Price / SF$592.22
Days on Market120
Property Features for 414 48th Street
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.05 Acres
Property subtype
Multi Family Home
Zoning
R6B
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Building Details
Building Size
2,700 SF
Year Built
1910
Buildings
1
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Peter Pan · License #10401215383
(917) 708-9966
Source:
Excellchoicerealty
Added: May 4
Changed: Aug 27
Last Checked: Aug 28 at 11:29AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This semi-detached brick triplex contains approximately 2,700 square feet of interior space on a 20 x 100 lot. The layout includes three full residential units: two two-bedroom apartments and one three-bedroom apartment. Each unit has a separate living area, while the full semi-finished basement adds usable space. Gas-fired steam-radiator heating serves the building, which was constructed in 1910.
All three apartments are occupied under month-to-month arrangements. The property is located at 414 48th Street in Brooklyn, between 4th and 5th Avenue, with access to the N, R, and D subway lines and major bus routes. Industry City is nearby, along with retail, dining, and creative-workspace offerings. The property is zoned R6B.
All three apartments are occupied under month-to-month arrangements. The property is located at 414 48th Street in Brooklyn, between 4th and 5th Avenue, with access to the N, R, and D subway lines and major bus routes. Industry City is nearby, along with retail, dining, and creative-workspace offerings. The property is zoned R6B.
Key Highlights
- Approximately 2,700 square feet of interior space on a 20 x 100 lot
- Three residential units: two 2‑bedroom apartments and one 3‑bedroom apartment
- All units occupied on a month‑to‑month basis
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
$80,392
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
5.03%
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%
$1,607,840
$1.6M
Cap Rate 7%
$1,148,457
$1.1M
Cap Rate 9%
$893,244
$893.2K
Market Conditions
NOI Build-Up for 2,700 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
$119.9K $44.40/SF
− Vacancy
−$5.0K −$1.86/SF
EGI
$114.8K $42.54/SF
− OpEx
−$34.5K −$12.76/SF
NOI
$80.4K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,607,840
Cap Rate 7%
$1,148,457
Cap Rate 9%
$893,244
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,392 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$1.03M
$900.0K – $1.20M
NOI $72,000 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,524 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,696
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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?
Triplex - Three occupied residential units provide month-to-month tenancy and a two-bedroom, three-bedroom unit mix.
Where is this triplex located?
The property is located at 414 48th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Approximately 2,700 square feet of interior space on a 20 x 100 lot; Three residential units: two 2‑bedroom apartments and one 3‑bedroom apartment; All units occupied on a month‑to‑month basis
