Renovated Brick
For Sale
$1,275,000
660 Warwick St, Brooklyn, NY 11207
A renovated 4-unit brick building with a finished basement and current month-to-month tenancy, delivering three occupied units.
Property Size2,880 SF
Lot Size0.05 Acres
Days on Market71
Property Features for 660 Warwick St
General Information
Standard status
Active
Size
2,880 SF
Lot size
0.05 Acres
Property subtype
Investment
Occupancy
75%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,776
Building Details
Building Size
2,880 SF
Year Built
1901
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Charles Rutenberg Realty Inc
(718) 916-6772
Listed By:
Jaleel Mussington · License #10401334023
(718) 916-6772
Source:
Elliman
Added: Jun 22
Changed: Aug 24
Last Checked: Aug 31 at 5:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This well-maintained brick quadplex is configured as a legal four-family, two-story building with four apartments plus a fully finished basement. The unit mix includes three one-bedroom apartments and one two-bedroom apartment. Three of the four units are currently occupied, and one unit will be delivered vacant. All four apartments were renovated within the last five years, and the hot water tank was replaced in 2023.
The first floor includes one one-bedroom unit and one two-bedroom unit. The second floor features two one-bedroom apartments. A finished basement with a private, separate entrance provides additional space that can support a range of resident uses, or be adapted depending on the next operator’s plan.
Tenancy is currently structured on month-to-month leases for all residents. With three units delivered occupied and one vacancy at delivery, the property offers flexibility for both investors and end users looking to control occupancy timing. Current updates across the apartments and a more recent hot water replacement help reduce near-term capex considerations while supporting continued residential income potential.
The first floor includes one one-bedroom unit and one two-bedroom unit. The second floor features two one-bedroom apartments. A finished basement with a private, separate entrance provides additional space that can support a range of resident uses, or be adapted depending on the next operator’s plan.
Tenancy is currently structured on month-to-month leases for all residents. With three units delivered occupied and one vacancy at delivery, the property offers flexibility for both investors and end users looking to control occupancy timing. Current updates across the apartments and a more recent hot water replacement help reduce near-term capex considerations while supporting continued residential income potential.
Key Highlights
- Legal 4‑family brick quadruplex built in 1901 on a 20x100 lot
- Unit mix: three 1‑bedroom units and one 2‑bedroom unit
- 3 units currently occupied; 1 unit will be delivered vacant
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
$100,862
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
7.91%
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%
$2,017,240
$2.0M
Cap Rate 7%
$1,440,886
$1.4M
Cap Rate 9%
$1,120,689
$1.1M
Market Conditions
NOI Build-Up for 2,880 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
$146.9K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$144.1K $50.03/SF
− OpEx
−$43.2K −$15.01/SF
NOI
$100.9K $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%
$2,017,240
Cap Rate 7%
$1,440,886
Cap Rate 9%
$1,120,689
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,862 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $87,923 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,925 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 - A renovated 4-unit brick building with a finished basement and current month-to-month tenancy, delivering three occupied units.
Where is this quadplex located?
The property is located at 660 Warwick St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Legal 4‑family brick quadruplex built in 1901 on a 20x100 lot; Unit mix: three 1‑bedroom units and one 2‑bedroom unit; 3 units currently occupied; 1 unit will be delivered vacant
