Six-Unit Brick Apartment
For Sale
$999,000
474 Bay Ridge Avenue, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size3,042 SF
Lot Size0.04 Acres
Price / SF$328.40
Days on Market112
Property Features for 474 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
5
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 5, Bedroom 4, Bathroom 2, Bathroom 6, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 7
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,042 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
10258
Building Details
Year built
1910
Floors in Building
3
Flooring type
Laminate, Carpet, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(347) 988-5318
Added: May 29
Changed: Sep 16
Last Checked: Sep 17 at 10:06PM
MLS# 501844
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment building at 474 Bay Ridge Avenue is constructed of brick and dates to 1910. The property contains approximately 3,042 square feet on a 20' x 96' lot, with a building footprint measuring approximately 20' x 55'. Four apartments are vacant, while the front and rear apartments on the third floor are occupied. Interior features include refrigerators and stoves, with carpet, tile, and laminate flooring throughout the property. The building has a flat roof and is zoned R5B.
Located in Brooklyn's Bay Ridge area, the property is near shopping, dining, transportation, and other local amenities. Its six-apartment configuration includes both vacant and occupied units, providing a combination of existing tenancy and available apartments.
Located in Brooklyn's Bay Ridge area, the property is near shopping, dining, transportation, and other local amenities. Its six-apartment configuration includes both vacant and occupied units, providing a combination of existing tenancy and available apartments.
Key Highlights
- Six‑unit apartment building with 4 vacant apartments and 2 tenant‑occupied units
- Approximately 3,042 square feet on a 20' x 96' lot
- Building measures approximately 20' x 55'
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
$81,120
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
8.12%
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%
$1,622,400
$1.6M
Cap Rate 7%
$1,158,857
$1.2M
Cap Rate 9%
$901,333
$901.3K
Market Conditions
NOI Build-Up for 3,042 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
$153.3K $50.40/SF
− Vacancy
−$5.8K −$1.92/SF
EGI
$147.5K $48.48/SF
− OpEx
−$66.4K −$21.82/SF
NOI
$81.1K $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 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%
$1,622,400
Cap Rate 7%
$1,158,857
Cap Rate 9%
$901,333
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,120 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,044 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,260
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Brick multifamily property with four vacant apartments and two tenant-occupied units.
Where is this apartment building located?
The property is located at 474 Bay Ridge Avenue 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: Six‑unit apartment building with 4 vacant apartments and 2 tenant‑occupied units; Approximately 3,042 square feet on a 20' x 96' lot; Building measures approximately 20' x 55'
