Three-Family Residence with Water
For Sale
$1,500,000
4911 Surf Avenue, Brooklyn, NY 11224
Residential, Triplex, Brooklyn, NY
Property Size3,762 SF
Lot Size0.12 Acres
Price / SF$398.72
Days on Market134
Property Features for 4911 Surf Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R3-1
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bathroom 6, Bedroom 8, Bedroom 2, Bedroom 1, Bedroom 7, Bathroom 5, Bedroom 5, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bedroom 3
Parking features
Offsite
Interior features
Central Air - Split
Basement
Finished
Subdivision
Seagate
Standard status
Active
Size
3,762 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
9107
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Block
Roof type
Flat, Asphalt
Architectural style
Other
Listing Agency:
Exclusive Properties Realty In
Listed By:
Juda Niayzov
(718) 916-4618
Added: May 7
Changed: Sep 16
Last Checked: Sep 17 at 3:06PM
MLS# 501254
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 3,762-square-foot triplex contains three separate apartments and finished basement space with its own entrance and full bath. The upper two residences each offer three bedrooms, two full baths, and a private balcony, while the first-floor apartment includes two bedrooms, one bath, and dedicated living and dining areas. Hardwood flooring, thermal windows, tiled basement floors, split central air, and a flat asphalt roof are among the documented improvements.
The property is located at 4911 Surf Avenue in Brooklyn’s Sea Gate community, a private gated waterfront setting. Two front balconies provide views toward the Verrazzano-Narrows Bridge and New York Harbor. Exterior amenities include a sundeck and maintained backyard, while the roof, boilers, and windows are described as well maintained. The parcel measures 0.123 acres, was built in 1930, and carries R3-1 zoning.
The property is located at 4911 Surf Avenue in Brooklyn’s Sea Gate community, a private gated waterfront setting. Two front balconies provide views toward the Verrazzano-Narrows Bridge and New York Harbor. Exterior amenities include a sundeck and maintained backyard, while the roof, boilers, and windows are described as well maintained. The parcel measures 0.123 acres, was built in 1930, and carries R3-1 zoning.
Key Highlights
- Three‑family triplex with 3,762 square feet of property size
- Unit mix includes two 3‑bedroom, 2‑bath apartments and one 2‑bedroom, 1‑bath apartment
- Finished basement with private entrance and full bath
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
$131,752
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
8.78%
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%
$2,635,040
$2.6M
Cap Rate 7%
$1,882,171
$1.9M
Cap Rate 9%
$1,463,911
$1.5M
Market Conditions
NOI Build-Up for 3,762 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
$191.9K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$188.2K $50.03/SF
− OpEx
−$56.5K −$15.01/SF
NOI
$131.8K $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%
$2,635,040
Cap Rate 7%
$1,882,171
Cap Rate 9%
$1,463,911
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,752 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,850 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$3.11M
$2.73M – $3.63M
NOI $218,046 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments plus finished lower-level space in a gated waterfront community with balconies, a sundeck, and backyard.
Where is this triplex located?
The property is located at 4911 Surf Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑family triplex with 3,762 square feet of property size; Unit mix includes two 3‑bedroom, 2‑bath apartments and one 2‑bedroom, 1‑bath apartment; Finished basement with private entrance and full bath
