10-Unit Brick Apartment
For Sale
$1,700,000
5502 6th Avenue, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size3,642 SF
Lot Size0.04 Acres
Price / SF$466.78
Days on Market314
Property Features for 5502 6th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A
Bedrooms
11
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 10, Bedroom 8, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 11, Bedroom 2, Bathroom 6, Bedroom 4, Bedroom 10, Bathroom 4, Bathroom 3, Bathroom 5, Bathroom 8, Bedroom 9, Bedroom 3, Bathroom 9, Bathroom 7
Parking features
Carport
Basement
Finished
Subdivision
Sunset Park
Standard status
Active
Size
3,642 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
21404
Building Details
Year built
1931
Floors in Building
3
Number of units
10
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Ben Bay Realty Co
Listed By:
Phoebe F. Burger · License #PFB1940
(718) 680-6442
Added: Nov 21, 2025
Changed: Sep 15
Last Checked: Oct 1 at 3:06PM
MLS# 497538
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 3,642-square-foot apartment property contains 10 family units in a brick building constructed in 1931. The structure measures 20x65 on a 20x80 lot encompassing 0.037 acres. Interior finishes include hardwood and tile flooring, while the building has a rubber roof and one carport space. Three units can be delivered vacant. The property is zoned R6A and is located at 5502 6th Avenue in Brooklyn’s 11220 postal area. Trains, shopping, and restaurants are nearby, providing access to everyday neighborhood services and transit connections.
Key Highlights
- 10‑family apartment building with 3,642 SF of building area
- Brick construction dating to 1931 with a rubber roof
- 20x65 building on a 20x80 lot totaling 0.037 acres
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
$97,120
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
5.71%
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%
$1,942,400
$1.9M
Cap Rate 7%
$1,387,429
$1.4M
Cap Rate 9%
$1,079,111
$1.1M
Market Conditions
NOI Build-Up for 3,642 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
$183.6K $50.40/SF
− Vacancy
−$7.0K −$1.92/SF
EGI
$176.6K $48.48/SF
− OpEx
−$79.5K −$21.82/SF
NOI
$97.1K $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%
$1,942,400
Cap Rate 7%
$1,387,429
Cap Rate 9%
$1,079,111
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $97,120 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,271 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
7,048
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 - Corner multifamily property with R6A zoning, one carport space, and three units available for delivery vacant.
Where is this apartment building located?
The property is located at 5502 6th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 10‑family apartment building with 3,642 SF of building area; Brick construction dating to 1931 with a rubber roof; 20x65 building on a 20x80 lot totaling 0.037 acres
