Renovated Cooperative
New
For Sale
$550,000
1111 Ocean Avenue 514, Brooklyn, NY 11230
The residence includes two bedrooms, one bathroom, and a private washer and dryer.
Property Size744 SF
Price / SF$739.25
Days on Market6
Property Features for 1111 Ocean Avenue 514
General Information
Standard status
Active
Size
744 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Amenities
pet-friendly
private parking
fitness center
bike storage
package receiving
in-unit laundry
Building Details
Building Size
744 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 27
Last Checked: Oct 27 at 3:45AM
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 cooperative residence at 1111 Ocean Avenue has two bedrooms and one bathroom. The 1954 building has an elevator, and residents have access to a fitness center, bike storage, package receiving, and in-unit laundry. Indoor private parking is available for purchase.
The property is in Brooklyn’s Ditmas Park area, with Prospect Park, transportation, recreation, restaurants, bars, and shops identified among the nearby amenities. The sponsor sale has no purchasing restrictions or board application process.
The property is in Brooklyn’s Ditmas Park area, with Prospect Park, transportation, recreation, restaurants, bars, and shops identified among the nearby amenities. The sponsor sale has no purchasing restrictions or board application process.
Key Highlights
- Two bedrooms and one bathroom
- 744 property‑size units stated
- Built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,714
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,280
$454.3K
Cap Rate 7%
$324,486
$324.5K
Cap Rate 9%
$252,378
$252.4K
Market Conditions
NOI Build-Up for 744 SF
Gross rent
$42.1K $56.64/SF
− Vacancy
−$843 −$1.13/SF
EGI
$41.3K $55.51/SF
− OpEx
−$18.6K −$24.98/SF
NOI
$22.7K $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%
$454,280
Cap Rate 7%
$324,486
Cap Rate 9%
$252,378
Alternative Uses
Best Use
Apartment 5plus
$324.5K
$283.9K – $378.6K
NOI $22,714 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$616.0K
$539.0K – $718.7K
NOI $43,122 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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 residence includes two bedrooms, one bathroom, and a private washer and dryer.
Where is this residential income property located?
The property is located at 1111 Ocean Avenue 514 Brooklyn, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two bedrooms and one bathroom; 744 property‑size units stated; Built in 1954
