Renovated Residential Income
1111 Ocean Avenue 603, Brooklyn, NY 11230
For Sale
$880,000
The three-bedroom residence includes in-unit laundry, generous storage, and access to elevator-building amenities.
Property Size1,328 SF
Price / SF$662.65
Days on Market25
Property Features for 1111 Ocean Avenue 603
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry
fitness center
bike storage
package receiving
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Matthew Pucker · License NY #10301208042
(917) 981-1107
Source:
Miradorrealestate
Added: Oct 22
Changed: Nov 15
Last Checked: Nov 14 at 2:19PM
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 1,328-square-foot, three-bedroom, two-bath co-op residence was built in 1954 and is described as newly renovated. Its layout includes an en-suite bathroom, northern and eastern exposures, in-unit laundry, and storage. The listing notes that photographs show a model unit and represent the fixtures and finishes. Indoor private parking is available for purchase.
The elevator building offers a fitness center, bike storage, package receiving, and pet-friendly policies. The property is in Ditmas Park, Brooklyn, with Prospect Park, transit, recreation, restaurants, bars, and shops identified in the surrounding area.
This is a sponsor sale with no purchasing restrictions or board application process. The complete offering terms are contained in the sponsor’s offering plan, File No. C870154.
The elevator building offers a fitness center, bike storage, package receiving, and pet-friendly policies. The property is in Ditmas Park, Brooklyn, with Prospect Park, transit, recreation, restaurants, bars, and shops identified in the surrounding area.
This is a sponsor sale with no purchasing restrictions or board application process. The complete offering terms are contained in the sponsor’s offering plan, File No. C870154.
Key Highlights
- 1,328‑square‑foot co‑op residence with 3 bedrooms and 2 bathrooms
- Built in 1954; described as newly renovated
- In‑unit laundry, en‑suite bathroom, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,542
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,840
$810.8K
Cap Rate 7%
$579,171
$579.2K
Cap Rate 9%
$450,467
$450.5K
Market Conditions
NOI Build-Up for 1,328 SF
Gross rent
$75.2K $56.64/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$73.7K $55.51/SF
− OpEx
−$33.2K −$24.98/SF
NOI
$40.5K $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%
$810,840
Cap Rate 7%
$579,171
Cap Rate 9%
$450,467
Alternative Uses
Best Use
Apartment 5plus
$579.2K
$506.8K – $675.7K
NOI $40,542 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.10M
$962.1K – $1.28M
NOI $76,971 @ 7.0% cap · market cap 8.75%
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
$863,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Brooklyn, NY
Properties on Market for Residential income properties in Brooklyn
Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom residence includes in-unit laundry, generous storage, and access to elevator-building amenities.
Where is this residential income property located?
The property is located at 1111 Ocean Avenue 603 Brooklyn, NY.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: 1,328‑square‑foot co‑op residence with 3 bedrooms and 2 bathrooms; Built in 1954; described as newly renovated; In‑unit laundry, en‑suite bathroom, and storage
