Brick Quadplex With Finished
For Sale
$1,150,000
652 Watkins Street, Brooklyn, NY 11212
MULTI_FAMILY - Brooklyn, NY
Property Size3,280 SF
Lot Size0.06 Acres
Price / SF$350.61
Days on Market8
Property Features for 652 Watkins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 1, Bathroom 2
Basement
Full, Finished
Subdivision
Brownsville
Standard status
Active
Size
3,280 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
10555
Building Details
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Brooklyn Real Property, Inc
(718) 272-8988
Listed By:
Anita Yeung
(718) 272-8988
Added: Aug 4
Changed: Aug 6
Last Checked: Aug 11 at 8:06PM
MLS# 503531
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 Brooklyn quadplex contains four apartments within a 3,280-square-foot brick building. The unit mix includes three two-bedroom apartments and one one-bedroom apartment, providing a clearly defined multifamily configuration. A finished basement adds usable interior space, while hardwood flooring and a flat roof are among the property’s existing features. The lot measures 0.0574 acres, and the property is zoned R6.
Located at 652 Watkins Street in Brooklyn, the property is near public transportation, shopping, schools, and hospitals. The four-unit layout, finished basement, and established brick construction provide a straightforward physical profile for multifamily ownership or occupancy planning.
Located at 652 Watkins Street in Brooklyn, the property is near public transportation, shopping, schools, and hospitals. The four-unit layout, finished basement, and established brick construction provide a straightforward physical profile for multifamily ownership or occupancy planning.
Key Highlights
- Four apartments: three two‑bedroom units and one one‑bedroom unit
- 3,280 square feet of building area
- Finished basement provides additional interior space
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
$100,135
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
8.71%
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%
$2,002,700
$2.0M
Cap Rate 7%
$1,430,500
$1.4M
Cap Rate 9%
$1,112,611
$1.1M
Market Conditions
NOI Build-Up for 3,280 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
$185.8K $56.64/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$182.1K $55.51/SF
− OpEx
−$81.9K −$24.98/SF
NOI
$100.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,002,700
Cap Rate 7%
$1,430,500
Cap Rate 9%
$1,112,611
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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?
Quadplex - Four-family brick property with a three-to-one mix of two-bedroom and one-bedroom apartments.
Where is this quadplex located?
The property is located at 652 Watkins Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four apartments: three two‑bedroom units and one one‑bedroom unit; 3,280 square feet of building area; Finished basement provides additional interior space
