Brick Three-Family
For Sale
$1,189,000
868 E 46th Street, Brooklyn, NY 11203
Residential, Brooklyn, NY
Property Size2,411 SF
Lot Size0.05 Acres
Price / SF$493.16
Days on Market168
Property Features for 868 E 46th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2
Parking features
Garage
Interior features
Refrigerator, Stove
Subdivision
Flatlands
Standard status
Active
Size
2,411 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6875
Amenities
hardwood floors
private driveway
garage
backyard
Building Details
Number of units
3
Flooring type
Hardwood, Carpet, Tile
Building materials
Brick, Masonry
Roof type
Flat, Rubber
Listing Agency:
Citadel Circle Realty
(718) 717-8251
Listed By:
Wesley Ally
(646) 982-5263
Added: Mar 23
Changed: Sep 5
Last Checked: Sep 6 at 10:06PM
MLS# 499885
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 2,411-square-foot brick and masonry triplex contains three residential apartments arranged as two two-bedroom units and one one-bedroom unit. Interior finishes include hardwood flooring on the upper levels, along with carpet and tile in other areas. Refrigerators and stoves are included, and the building has a flat rubber roof.
The property occupies 0.0459 acres at 868 E 46th Street in Brooklyn’s 11203 postal area. A private driveway, garage, and backyard provide dedicated parking and exterior space. Public transportation is located nearby, adding an accessible transit option for residents.
The property occupies 0.0459 acres at 868 E 46th Street in Brooklyn’s 11203 postal area. A private driveway, garage, and backyard provide dedicated parking and exterior space. Public transportation is located nearby, adding an accessible transit option for residents.
Key Highlights
- Three‑unit residential configuration with two 2‑bedroom apartments and one 1‑bedroom apartment
- 2,411 square feet on a 0.0459‑acre lot
- Brick and masonry construction
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
$84,437
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
7.10%
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%
$1,688,740
$1.7M
Cap Rate 7%
$1,206,243
$1.2M
Cap Rate 9%
$938,189
$938.2K
Market Conditions
NOI Build-Up for 2,411 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
$123.0K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.6K $50.03/SF
− OpEx
−$36.2K −$15.01/SF
NOI
$84.4K $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%
$1,688,740
Cap Rate 7%
$1,206,243
Cap Rate 9%
$938,189
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,437 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$1.05M
$920.1K – $1.23M
NOI $73,605 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $139,742 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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?
Triplex - Three residential units offer a two-bedroom, two-bedroom, and one-bedroom configuration with private parking and outdoor space.
Where is this triplex located?
The property is located at 868 E 46th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Three‑unit residential configuration with two 2‑bedroom apartments and one 1‑bedroom apartment; 2,411 square feet on a 0.0459‑acre lot; Brick and masonry construction
