Eight-Unit Multifamily Income
For Sale
$3,700,000
452 Atlantic Avenue, Brooklyn, NY 11217
Eight-unit rental building featuring studios and one- and two-bedroom apartments, with free-market units driving the majority of income.
Property Size6,000 SF
Days on Market28
Property Features for 452 Atlantic Avenue
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multifamily
Financials
Cap Rate
6%
Business Included
Yes
Additional Details
Multifamily Units
8
Amenities
452 Atlantic Avenue is a four-story, 6,000-square-foot multifamily building, approx. 6,000 SF.
Zoning: R6A | Tax Class: 2B | 1,125 Total Air Rights
452 Atlantic Avenue has excellent connectivity to the rest of NYC, with access to the 2,3,4,5,C,B,D,N,Q,R,A,C,F & G Subway lines as well as the LIRR.
Building Details
Building Size
6,000 SF
Units
8
Listing Agency:
New York City Office
(718) 475-4369
Listed By:
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Jul 17
Changed: Aug 7
Last Checked: Aug 12 at 3:11AM
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 New York City Office
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to offer 452 Atlantic Avenue, an income-producing multifamily property in brownstone Brooklyn. The building consists of eight units, with a mix of one studio, three one-bedroom apartments, and four two-bedroom apartments. The unit mix is anchored by five free-market apartments, which generate roughly 80% of in-place rental income.
The rent roll includes a combination of free-market and rent-stabilized units. Free-market rents average approximately $4,070 per month, led by a standout duplex two-bedroom with a large private backyard and a convertible third bedroom. The three rent-stabilized one-bedrooms round out the remaining income base, supporting a stable, below-market profile with modest, predictable annual increases.
The offering is presented with a stated 6.00% return metric.
The rent roll includes a combination of free-market and rent-stabilized units. Free-market rents average approximately $4,070 per month, led by a standout duplex two-bedroom with a large private backyard and a convertible third bedroom. The three rent-stabilized one-bedrooms round out the remaining income base, supporting a stable, below-market profile with modest, predictable annual increases.
The offering is presented with a stated 6.00% return metric.
Key Highlights
- Eight‑unit multifamily building with a mix of 1 studio, 4 two‑bedroom, and 3 one‑bedroom apartments
- Free‑market apartments account for roughly 80% of in‑place rental income, with free‑market rents averaging about $4,070/month
- Rent mix includes three rent‑stabilized one‑bedrooms designed to provide stable, below‑market income with modest annual increases
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
$183,174
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
4.95%
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%
$3,663,480
$3.7M
Cap Rate 7%
$2,616,771
$2.6M
Cap Rate 9%
$2,035,267
$2.0M
Market Conditions
NOI Build-Up for 6,000 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
$339.8K $56.64/SF
− Vacancy
−$6.8K −$1.13/SF
EGI
$333.0K $55.51/SF
− OpEx
−$149.9K −$24.98/SF
NOI
$183.2K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,663,480
Cap Rate 7%
$2,616,771
Cap Rate 9%
$2,035,267
Alternative Uses
Best Use
Apartment 5plus
$2.62M
$2.29M – $3.05M
NOI $183,174 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12,893
Businesses Nearby
Explore this area
Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
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?
Apartment building - Eight-unit rental building featuring studios and one- and two-bedroom apartments, with free-market units driving the majority of income.
Where is this apartment building located?
The property is located at 452 Atlantic Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Eight‑unit multifamily building with a mix of 1 studio, 4 two‑bedroom, and 3 one‑bedroom apartments; Free‑market apartments account for roughly 80% of in‑place rental income, with free‑market rents averaging about $4,070/month; Rent mix includes three rent‑stabilized one‑bedrooms designed to provide stable, below‑market income with modest annual increases
