Three-Unit Multifamily
New
For Sale
$1,550,000
8118 7th Ave, Brooklyn, NY 11228
Offers varied residential layouts, eat-in kitchens, laundry space, and a covered rear patio.
Property Size2,100 SF
Days on Market3
Property Features for 8118 7th Ave
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Investment
Units
Unit Mix
2 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,933
Amenities
covered rear patio
Building Details
Building Size
2,100 SF
Year Built
1925
Buildings
1
Stories
2
Units
3
Listing Agency:
Keller Williams Realty Group
Listed By:
Erin E. Lee
(917) 816-1411
Source:
Elliman
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 10 at 9:07AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This two-story triplex at 8118 7th Avenue includes three residential units and an unfinished basement. The main level contains two one-bedroom, one-bath residences, while the upper level provides a three-bedroom, one-bath layout with a living room, dining area, eat-in kitchen, laundry area, and full bath. A covered rear patio adds outdoor space, and the property was built in 1925.
The home is in Dyker Heights, with neighborhood shopping, dining, parks, schools, and transportation nearby. Bay Ridge and Bensonhurst are also identified as nearby communities. Walk Score is 92, Transit Score is 80, and Bike Score is 55, reflecting access to walking, transit, and bicycling options.
The home is in Dyker Heights, with neighborhood shopping, dining, parks, schools, and transportation nearby. Bay Ridge and Bensonhurst are also identified as nearby communities. Walk Score is 92, Transit Score is 80, and Bike Score is 55, reflecting access to walking, transit, and bicycling options.
Key Highlights
- Three residential units across two stories
- Unit mix includes two 1‑bedroom, 1‑bath units and one 3‑bedroom, 1‑bath unit
- Covered rear patio provides additional outdoor 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
$73,546
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
4.74%
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%
$1,470,920
$1.5M
Cap Rate 7%
$1,050,657
$1.1M
Cap Rate 9%
$817,178
$817.2K
Market Conditions
NOI Build-Up for 2,100 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
$107.1K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.1K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.5K $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%
$1,470,920
Cap Rate 7%
$1,050,657
Cap Rate 9%
$817,178
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.3K – $1.23M
NOI $73,546 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$915.9K
$801.4K – $1.07M
NOI $64,111 @ 7.0% cap · market cap 4.14%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,716 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
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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?
Triplex - Offers varied residential layouts, eat-in kitchens, laundry space, and a covered rear patio.
Where is this triplex located?
The property is located at 8118 7th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three residential units across two stories; Unit mix includes two 1‑bedroom, 1‑bath units and one 3‑bedroom, 1‑bath unit; Covered rear patio provides additional outdoor space
