Six-Unit Brick Apartment
448 40th St., Brooklyn, NY 11220
For Sale
New
$1,650,000
Six three-bedroom apartments are arranged in a Brooklyn multifamily building with R6B zoning.
Property Size4,488 SF
Price / SF$367.65
Days on Market5
Property Features for 448 40th St.
General Information
Standard status
Size
Property subtype
Zoning
Financials
Cap Rate
Gross Income
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Full
0.00
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Ilite Realty Inc
Listed By:
Igor Libo
(718) 986-4470
Source:
Suitsre
Added: Nov 9
Changed: Nov 10
Last Checked: Nov 13 at 8:00AM
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 Ilite Realty Inc
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Investment Insights
Based on property information with market context.
This 4,488-square-foot brick apartment building was constructed in 1914 and contains six apartments, each with three bedrooms and one bathroom. The third-floor windows are new, and the roof is approximately 7–8 years old. The property is zoned R6B.
At 448 40th St. in Brooklyn, the building is near N, D and R train service, shopping, Sunset Park, Industry City’s waterfront and express transit options to Manhattan. The property information also reports a 5.1% cap rate.
At 448 40th St. in Brooklyn, the building is near N, D and R train service, shopping, Sunset Park, Industry City’s waterfront and express transit options to Manhattan. The property information also reports a 5.1% cap rate.
Key Highlights
- Six apartments, each with 3 bedrooms and 1 bathroom
- 4,488 square feet in a brick building constructed in 1914
- R6B zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,680
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,393,600
$2.4M
Cap Rate 7%
$1,709,714
$1.7M
Cap Rate 9%
$1,329,778
$1.3M
Market Conditions
NOI Build-Up for 4,488 SF
Gross rent
$226.2K $50.40/SF
− Vacancy
−$8.6K −$1.92/SF
EGI
$217.6K $48.48/SF
− OpEx
−$97.9K −$21.82/SF
NOI
$119.7K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,393,600
Cap Rate 7%
$1,709,714
Cap Rate 9%
$1,329,778
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $1.99M
NOI $119,680 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,662 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,589
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
$1,021,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Brooklyn, NY
Properties on Market for Apartment buildings in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six three-bedroom apartments are arranged in a Brooklyn multifamily building with R6B zoning.
Where is this apartment building located?
The property is located at 448 40th St. Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six apartments, each with 3 bedrooms and 1 bathroom; 4,488 square feet in a brick building constructed in 1914; R6B zoning
