Renovated Apartment
For Sale
$2,580,000
1096 Ocean Avenue, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size4,000 SF
Lot Size0.13 Acres
Price / SF$645
Days on Market389
Property Features for 1096 Ocean Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
17
Full bathrooms
17
Rooms
Bathroom 7, Bathroom 9, Bathroom 10, Bathroom 12, Bathroom 4, Bathroom 1, Bathroom 14, Bathroom 3, Bathroom 15, Bathroom 13, Bathroom 11, Bathroom 2, Bathroom 8, Bathroom 5, Bathroom 17, Bathroom 16, Bathroom 6
Interior features
Refrigerator, Stove
Subdivision
Flatbush
Standard status
Active
Size
4,000 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
61189
Building Details
Year built
1931
Floors in Building
4
Number of units
17
Flooring type
Ceramic, Hardwood, Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
David Feng
(718) 680-2776
Added: Aug 15, 2025
Changed: Sep 5
Last Checked: Sep 7 at 4:06AM
MLS# 495067
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 4,000-square-foot apartment building dates to 1931 and occupies a 0.1274-acre lot. The brick property includes newly renovated units, with electrical, plumbing, and piping updated throughout. Interior finishes include ceramic, hardwood, and carpet flooring, while refrigerators and stoves are provided. The building also contains 17 bathrooms and has a flat roof.
Located on Ocean Avenue between Foster Avenue and Glenwood Road in Brooklyn, the property is occupied by rent-stabilized tenants and is described as having high occupancy. The asset is identified as an apartment building within a multifamily property classification.
Located on Ocean Avenue between Foster Avenue and Glenwood Road in Brooklyn, the property is occupied by rent-stabilized tenants and is described as having high occupancy. The asset is identified as an apartment building within a multifamily property classification.
Key Highlights
- 4,000 square feet on a 0.1274‑acre lot
- Units newly renovated with updated electrical, plumbing, and piping throughout
- Brick construction built in 1931
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
$122,116
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
4.73%
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%
$2,442,320
$2.4M
Cap Rate 7%
$1,744,514
$1.7M
Cap Rate 9%
$1,356,844
$1.4M
Market Conditions
NOI Build-Up for 4,000 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
$226.6K $56.64/SF
− Vacancy
−$4.5K −$1.13/SF
EGI
$222.0K $55.51/SF
− OpEx
−$99.9K −$24.98/SF
NOI
$122.1K $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%
$2,442,320
Cap Rate 7%
$1,744,514
Cap Rate 9%
$1,356,844
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.53M – $2.04M
NOI $122,116 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,740
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with renovated units and updated electrical, plumbing, and piping systems.
Where is this apartment building located?
The property is located at 1096 Ocean Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,580,000.
What are key features of this property?
This property features: 4,000 square feet on a 0.1274‑acre lot; Units newly renovated with updated electrical, plumbing, and piping throughout; Brick construction built in 1931
