Brick Corner 10-Unit Multifamily
For Sale
$1,600,000
5502 6th Avenue, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size3,642 SF
Lot Size0.04 Acres
Price / SF$439.32
Days on Market262
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 11, Bathroom 10, Bathroom 7, Bathroom 5, Bathroom 8, Bedroom 2, Bathroom 9, Bedroom 6, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 10, Bedroom 7, Bathroom 6, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 8, Bedroom 9
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
(718) 680-6442
Listed By:
Phoebe F. Burger · License #PFB1940
(718) 680-6442
Added: Nov 21, 2025
Changed: Aug 3
Last Checked: Aug 10 at 11:06PM
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 corner 10-unit multifamily building is constructed of brick and built in 1931. The property totals 3,642 square feet and is zoned R6A. Interiors feature hardwood and tile flooring, and the roof is rubber.
The site is a 20 x 80 lot with a 20 x 65 building footprint. Parking is available via a carport with 1 parking space. The seller can deliver 3 units vacant. The building is described as being close to trains, shopping, and restaurants.
Additional room layout detail includes 8 bedrooms and multiple bathrooms, with the provided room list showing Bedroom 1 through Bedroom 11 and Bathroom 1 through Bathroom 10.
The site is a 20 x 80 lot with a 20 x 65 building footprint. Parking is available via a carport with 1 parking space. The seller can deliver 3 units vacant. The building is described as being close to trains, shopping, and restaurants.
Additional room layout detail includes 8 bedrooms and multiple bathrooms, with the provided room list showing Bedroom 1 through Bedroom 11 and Bathroom 1 through Bathroom 10.
Key Highlights
- Corner 10‑unit multifamily building
- Brick construction with hardwood and tile flooring
- Zoned R6A
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
6.07%
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 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,271 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
6,697
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
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 corner 10-unit multifamily building zoned R6A with a carport and 1 parking space.
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 $1,600,000.
What are key features of this property?
This property features: Corner 10‑unit multifamily building; Brick construction with hardwood and tile flooring; Zoned R6A
