Four-Family Residential Income
For Sale
$1,990,000
844 39th St, Brooklyn, NY 11232
Two-story four-unit building with a finished basement, delivered vacant and near transit and neighborhood retail.
Property Size3,252 SF
Days on Market61
Property Features for 844 39th St
General Information
Standard status
Active
Size
3,252 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,087
Building Details
Building Size
3,252 SF
Year Built
1931
Stories
2
Tenancy
Multi
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Qi Weng
(917) 708-9966
Source:
Elliman
Added: Jun 14
Changed: Aug 12
Last Checked: Aug 13 at 10:53AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This four-family property is a two-story residential building with a finished basement and is described as being in good condition. The layout provides living space across the main floors plus an additional finished lower level, supporting flexible day-to-day use for tenants or an owner-occupant. Delivery is vacant, which can simplify transition and near-term planning.
Located in the heart of Sunset Park, the property is positioned close to restaurants, supermarkets, shops, and Sunset Park amenities. Public transportation is noted as just minutes away, with access to the D line and nearby buses. WalkScore and transitScore are both listed as extremely strong, with transitScore noted as 100 and walkScore noted as 98, alongside a bikeScore of 79.
For buyers, this is a straightforward residential income option with a configuration that can accommodate multiple households within one building. It may also fit an end user seeking a multi-family setup while having the benefit of vacant delivery. The surrounding mix of everyday retail and public transit access supports practical tenant convenience and everyday livability.
Located in the heart of Sunset Park, the property is positioned close to restaurants, supermarkets, shops, and Sunset Park amenities. Public transportation is noted as just minutes away, with access to the D line and nearby buses. WalkScore and transitScore are both listed as extremely strong, with transitScore noted as 100 and walkScore noted as 98, alongside a bikeScore of 79.
For buyers, this is a straightforward residential income option with a configuration that can accommodate multiple households within one building. It may also fit an end user seeking a multi-family setup while having the benefit of vacant delivery. The surrounding mix of everyday retail and public transit access supports practical tenant convenience and everyday livability.
Key Highlights
- 4‑unit, two‑story building with a finished basement
- Built in 1931
- 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
$113,891
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
5.72%
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%
$2,277,820
$2.3M
Cap Rate 7%
$1,627,014
$1.6M
Cap Rate 9%
$1,265,456
$1.3M
Market Conditions
NOI Build-Up for 3,252 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
$165.9K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$162.7K $50.03/SF
− OpEx
−$48.8K −$15.01/SF
NOI
$113.9K $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%
$2,277,820
Cap Rate 7%
$1,627,014
Cap Rate 9%
$1,265,456
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.42M – $1.90M
NOI $113,891 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,280 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$2.69M
$2.36M – $3.14M
NOI $188,486 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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 - Two-story four-unit building with a finished basement, delivered vacant and near transit and neighborhood retail.
Where is this quadplex located?
The property is located at 844 39th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 4‑unit, two‑story building with a finished basement; Built in 1931; Delivered vacant
