Six-Unit Apartment
For Sale
$1,590,000
741 Pennsylvania Avenue, Brooklyn, NY 11207
Multifamily property near amenities and public transportation.
Property Size4,725 SF
Price / SF$336.51
Days on Market1455
Property Features for 741 Pennsylvania Avenue
General Information
Standard status
Active
Size
4,725 SF
Property subtype
Multi Family
Net Operating Income
$130,000
Additional Details
Gross Income
$156,000
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$15,688
Amenities
No, No, None
Public Sewer, Yes, Other, Public, Other, 6, 6
Other
Square Feet, 30x95
See Remarks
Other, Public
20
1 Common Wall
Square Feet
Other/See Remarks, Corner Apartment
No
Building Details
Year Built
1930
Buildings
1
Listing Agency:
5 Boro Realty Corp
Listed By:
Nina Sabag · License #10311207532
(855) 305-3325
Source:
Compass
Added: Sep 12, 2022
Changed: Sep 2
Last Checked: Sep 4 at 5:34PM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
Located at 741 Pennsylvania Avenue in Brooklyn, NY 11207, this multifamily property contains six residential units with a combined 12 bedrooms. The building offers a compact apartment configuration suited to residential occupancy and dates to 1930.
The property is positioned near amenities and public transportation in an established Brooklyn setting. Its unit count, bedroom total, and existing apartment layout provide a clear framework for multifamily ownership and management.
The property is positioned near amenities and public transportation in an established Brooklyn setting. Its unit count, bedroom total, and existing apartment layout provide a clear framework for multifamily ownership and management.
Key Highlights
- Six‑unit apartment building
- 12 total bedrooms
- 4,725 square feet
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
$144,249
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
9.07%
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%
$2,884,980
$2.9M
Cap Rate 7%
$2,060,700
$2.1M
Cap Rate 9%
$1,602,767
$1.6M
Market Conditions
NOI Build-Up for 4,725 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
$267.6K $56.64/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$262.3K $55.51/SF
− OpEx
−$118.0K −$24.98/SF
NOI
$144.2K $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%
$2,884,980
Cap Rate 7%
$2,060,700
Cap Rate 9%
$1,602,767
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $144,249 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,861 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,050
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?
Apartment building - Multifamily property near amenities and public transportation.
Where is this apartment building located?
The property is located at 741 Pennsylvania Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Six‑unit apartment building; 12 total bedrooms; 4,725 square feet
