Historic Quadplex with
For Sale
$3,995,000
420 8th Street, Brooklyn, NY 11215
Four floor-through apartments retain original woodwork and remain in live-in condition.
Property Size4,141 SF
Price / SF$964.74
Days on Market170
Property Features for 420 8th Street
General Information
Standard status
Active
Size
4,141 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Amenities
wood-burning fireplace
Building Details
Year Built
1901
Buildings
1
Construction
Neo-Grec
Listing Agency:
Compass
(303) 921-4056
Listed By:
Annika Grove
(303) 921-4056
Source:
Compass
Added: Mar 15
Changed: Aug 30
Last Checked: Aug 30 at 10:15PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1901, this four-family residence contains 4,141 square feet across four floor-through apartments, with additional space in the cellar. The interiors retain extensive late 19th-century character, including original woodwork, high ceilings, large windows, and a wood-burning fireplace on each floor. The building is maintained and configured for residential occupancy.
Located at 420 8th Street in Brooklyn, the property sits near Prospect Park, the shops and restaurants along 7th Avenue, and the 7th Avenue F train station. Designed by architect William M. Calder in the Neo-Grec style, the residence presents a preserved example of historic Brooklyn architecture with substantial room proportions and four separate apartment layouts.
Located at 420 8th Street in Brooklyn, the property sits near Prospect Park, the shops and restaurants along 7th Avenue, and the 7th Avenue F train station. Designed by architect William M. Calder in the Neo-Grec style, the residence presents a preserved example of historic Brooklyn architecture with substantial room proportions and four separate apartment layouts.
Key Highlights
- Four floor‑through apartments totaling 4,141 square feet
- Built in 1901 with Neo‑Grec architectural design by William M. Calder
- Original woodwork and preserved late 19th‑century residential details
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
$145,025
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
3.63%
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%
$2,900,500
$2.9M
Cap Rate 7%
$2,071,786
$2.1M
Cap Rate 9%
$1,611,389
$1.6M
Market Conditions
NOI Build-Up for 4,141 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
$211.2K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$207.2K $50.03/SF
− OpEx
−$62.2K −$15.01/SF
NOI
$145.0K $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%
$2,900,500
Cap Rate 7%
$2,071,786
Cap Rate 9%
$1,611,389
Alternative Uses
Best Use
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,025 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,420 @ 7.0% cap · market cap 3.16%
Theoretical Best
Specialty Retail
$3.43M
$3.00M – $4.00M
NOI $240,012 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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 - Four floor-through apartments retain original woodwork and remain in live-in condition.
Where is this quadplex located?
The property is located at 420 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Four floor‑through apartments totaling 4,141 square feet; Built in 1901 with Neo‑Grec architectural design by William M. Calder; Original woodwork and preserved late 19th‑century residential details
