Residential Income Property with
New
For Sale
$675,000
1111 Ocean Avenue 205, Brooklyn, NY 11230
The renovated two-bedroom, two-bath residence is in an elevator building with a fitness center and bike storage.
Property Size989 SF
Price / SF$682.51
Days on Market5
Property Features for 1111 Ocean Avenue 205
General Information
Standard status
Active
Size
989 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
fitness center
bike storage
package receiving
in-unit laundry
Building Details
Building Size
989 SF
Year Built
1954
Construction
mid-century
Listing Agency:
Compass
Listed By:
Matthew Pucker · License #10301208042
(917) 981-1107
Source:
Carlinwright
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 24 at 3:32PM
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 Compass
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Investment Insights
Based on property information with market context.
This 1954 residential income property contains a renovated two-bedroom, two-bath residence with an open layout, in-unit laundry, and storage. Interior finishes include wide-plank oak flooring, custom cabinetry, recessed lighting, and updated hardware. Indoor private parking is available for purchase.
The elevator building also offers a fitness center, bike storage, package receiving, and a pet-friendly environment. Located in Ditmas Park, the property is near Prospect Park, transportation, recreation, and neighborhood restaurants, bars, and shops. The sponsor sale has no purchasing restrictions or board application process.
The elevator building also offers a fitness center, bike storage, package receiving, and a pet-friendly environment. Located in Ditmas Park, the property is near Prospect Park, transportation, recreation, and neighborhood restaurants, bars, and shops. The sponsor sale has no purchasing restrictions or board application process.
Key Highlights
- Two‑bedroom, two‑bath residence
- Built in 1954
- In‑unit laundry and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,193
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,860
$603.9K
Cap Rate 7%
$431,329
$431.3K
Cap Rate 9%
$335,478
$335.5K
Market Conditions
NOI Build-Up for 989 SF
Gross rent
$56.0K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$54.9K $55.51/SF
− OpEx
−$24.7K −$24.98/SF
NOI
$30.2K $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 Rate 5%
$603,860
Cap Rate 7%
$431,329
Cap Rate 9%
$335,478
Alternative Uses
Best Use
Apartment 5plus
$431.3K
$377.4K – $503.2K
NOI $30,193 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$818.9K
$716.5K – $955.4K
NOI $57,322 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,740
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The renovated two-bedroom, two-bath residence is in an elevator building with a fitness center and bike storage.
Where is this residential income property located?
The property is located at 1111 Ocean Avenue 205 Brooklyn, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence; Built in 1954; In‑unit laundry and storage
