Six-Unit Brick Apartment
For Sale
$1,360,000
767 E 9th Street, Brooklyn, NY 11230
Residential, Duplex, Brooklyn, NY
Property Size1,760 SF
Lot Size0.06 Acres
Price / SF$772.73
Days on Market11
Property Features for 767 E 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R7A
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 5, Bathroom 3, Bedroom 10, Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 7, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 4, Bedroom 9, Bathroom 5, Bedroom 11, Bedroom 6
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Midwood
Standard status
Active
Size
1,760 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
24000
Building Details
Year built
1925
Floors in Building
3
Number of units
6
Flooring type
Ceramic, Tile
Building materials
Brick, Masonry
Roof type
Rubber
Architectural style
Other
Listing Agency:
Empire State Realty Group
Listed By:
Li Zhong Lin
(646) 932-4442
Added: Sep 17
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 504667
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 1,760-square-foot, six-family apartment building was constructed in 1925 and has brick and masonry construction. The fully occupied property includes three front apartments that were gut renovated and are deregulated. Renovation work was completed on the first- and second-floor apartments in 2019 and on the third-floor apartment in 2023. A new hot water heater was installed in 2021, followed by a new furnace in 2023; the front portion of the roof was redone in 2022. A half bath is located in the basement. The property sits on a 0.0612-acre lot and is zoned R7A.
Public transportation and Ocean Parkway are nearby. The building is in Brooklyn, NY.
Public transportation and Ocean Parkway are nearby. The building is in Brooklyn, NY.
Key Highlights
- Six‑family building with all apartments occupied
- Three front apartments are deregulated and received gut renovations
- First- and second‑floor renovations completed in 2019; third‑floor work completed in 2023
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
$53,731
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
3.95%
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%
$1,074,620
$1.1M
Cap Rate 7%
$767,586
$767.6K
Cap Rate 9%
$597,011
$597.0K
Market Conditions
NOI Build-Up for 1,760 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
$99.7K $56.64/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$97.7K $55.51/SF
− OpEx
−$44.0K −$24.98/SF
NOI
$53.7K $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%
$1,074,620
Cap Rate 7%
$767,586
Cap Rate 9%
$597,011
Alternative Uses
Best Use
Apartment 5plus
$767.6K
$671.6K – $895.5K
NOI $53,731 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,010 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three front apartments have been renovated, with updates completed in 2019 and 2023.
Where is this apartment building located?
The property is located at 767 E 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: Six‑family building with all apartments occupied; Three front apartments are deregulated and received gut renovations; First- and second‑floor renovations completed in 2019; third‑floor work completed in 2023
