Williamsburg Four-Family Brick
For Sale
$2,700,000
Pending
744 Driggs Ave, Brooklyn, NY 11211
Well-maintained, four-unit building in prime Williamsburg location.
Property Size2,683 SF
Lot Size0.03 Acres
Days on Market140
Property Features for 744 Driggs Ave
General Information
Standard status
Pending
Size
2,683 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,134
Building Details
Building Size
2,683 SF
Year Built
1920
Stories
4
Listing Agency:
Womcore LLC dba Remax Edge
(718) 313-0214
Listed By:
Ruslan Mingazov · License #10301211175
(718) 313-0214
Source:
Elliman
Added: Apr 15
Changed: Aug 31
Last Checked: Jul 31 at 12:30PM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This well-maintained, semi-detached, four-family brick building is located in prime Williamsburg. Constructed in 1920, the property spans approximately 2,600 square feet and includes 6 bedrooms and 4 full bathrooms across its four units. The building sits on a 19.17 x 78.5 lot within an R6 zoning district, offering long-term upside potential. Each unit features practical layouts with strong rental appeal, making it suitable for investors seeking stable income and end users looking to offset ownership costs. A full unfinished basement provides valuable storage and utility space. The property is located near Bedford Avenue’s dining, shopping, and nightlife, with convenient access to the L train at Bedford Ave, the G train at Metropolitan Ave, and the J, M, Z lines at Marcy Ave, facilitating commutes throughout Brooklyn and Manhattan. The location has a bike score of 92, a walk score of 98, and a transit score of 100.
Key Highlights
- Prime Williamsburg location with exceptional walk, bike, and transit scores (98, 92, and 100 respectively) providing unparalleled access to amenities and transportation.
- Four‑unit building offering income potential for investors or cost offset for owner‑occupiers.
- R6 zoning provides long‑term upside potential for future development.
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
$91,056
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
3.37%
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%
$1,821,120
$1.8M
Cap Rate 7%
$1,300,800
$1.3M
Cap Rate 9%
$1,011,733
$1.0M
Market Conditions
NOI Build-Up for 2,600 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
$132.6K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$130.1K $50.03/SF
− OpEx
−$39.0K −$15.01/SF
NOI
$91.1K $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%
$1,821,120
Cap Rate 7%
$1,300,800
Cap Rate 9%
$1,011,733
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,056 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$1.13M
$992.2K – $1.32M
NOI $79,375 @ 7.0% cap · market cap 2.94%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained, four-unit building in prime Williamsburg location.
Where is this quadplex located?
The property is located at 744 Driggs Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime Williamsburg location with exceptional walk, bike, and transit scores (98, 92, and 100 respectively) providing unparalleled access to amenities and transportation.; Four‑unit building offering income potential for investors or cost offset for owner‑occupiers.; R6 zoning provides long‑term upside potential for future development.
