Brick 6-Family Apartment
474 Bay Ridge Ave Brooklyn, NY 11220
For Sale
$999,000
Solid brick six-unit building with four vacant apartments and two occupied units for flexible income or owner-occupancy.
Property Size1,100 SF
Lot Size0.04 Acres
Price / SF$908.18
Days on Market55
Property Features for 474 Bay Ridge Ave
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Lot size
- 0.04 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1910
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Jason Zhou
(718) 612-3088
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 26 at 11:51AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This solid brick 6-family apartment building is arranged with front and rear units on both the first and second floors, and front and rear units on the third floor. According to the current configuration, four apartments are vacant, including the front and rear units on the first and second floors, while two apartments are occupied on the third-floor front and rear.
The property sits on a 20' x 96' lot with a building size of approximately 20' x 55'. Taxes are approximately $10,385 annually. It is located at 474 Bay Ridge Ave in Brooklyn, with convenient access to shopping, dining, transportation, and local amenities.
For buyers looking for flexibility, the mix of vacant and occupied units may support phased occupancy plans or owner-occupant scenarios. The listing also notes that a purchaser must provide a substantial down payment to qualify for mortgage financing for this purchase.
The property sits on a 20' x 96' lot with a building size of approximately 20' x 55'. Taxes are approximately $10,385 annually. It is located at 474 Bay Ridge Ave in Brooklyn, with convenient access to shopping, dining, transportation, and local amenities.
For buyers looking for flexibility, the mix of vacant and occupied units may support phased occupancy plans or owner-occupant scenarios. The listing also notes that a purchaser must provide a substantial down payment to qualify for mortgage financing for this purchase.
Key Highlights
- Solid brick 6‑family building built in 1910 in Bay Ridge, Brooklyn
- Layout includes 4 vacant apartments plus 2 tenant‑occupied units (3rd floor front and rear)
- Lot size 20' x 96' with building size approximately 20' x 55'
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.4k | $50.40 |
| − Vacancy | −$2.1k | −$1.92 |
| EGI | $53.3k | $48.48 |
| − OpEx | −$24.0k | −$21.82 |
| NOI | $29.3k | $26.67 |
1,100 SF · lease $50.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$419.0K
$366.7K – $488.9K
NOI $29,333 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$713.1K
$624.0K – $832.0K
NOI $49,917 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Solid brick six-unit building with four vacant apartments and two occupied units for flexible income or owner-occupancy.
Where is this apartment building located?
The property is located at 474 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Solid brick 6‑family building built in 1910 in Bay Ridge, Brooklyn; Layout includes 4 vacant apartments plus 2 tenant‑occupied units (3rd floor front and rear); Lot size 20' x 96' with building size approximately 20' x 55'
