Renovated Residential Income
For Sale
$720,000
1111 Ocean Avenue 606, Brooklyn, NY 11230
Two-bedroom, two-bath residence with modern finishes, private laundry, elevator access, and building amenities.
Property Size957 SF
Price / SF$752.35
Days on Market25
Property Features for 1111 Ocean Avenue 606
General Information
Standard status
Active
Size
957 SF
Property subtype
Apartment
Building Details
Building Size
957 SF
Year Built
1954
Listing Agency:
Compass
Listed By:
Matthew Pucker
(917) 981-1107
Source:
Carlinwright
Added: Sep 14
Changed: Oct 6
Last Checked: Oct 7 at 5:59PM
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
Investment Insights
Based on property information with market context.
This 957-square-foot residence is configured with two bedrooms and two bathrooms, including an en-suite, within a 1954 elevator building. The recently renovated interior features an open plan, southeast and northeast exposures, custom cabinetry, recessed lighting, wide-plank oak flooring, in-unit laundry, and substantial storage. Indoor private parking is available for purchase, and the building includes a fitness center, bike storage, package receiving, and pet-friendly policies.
Located in Ditmas Park, the property offers access to Prospect Park, transportation, recreation, and neighborhood restaurants, bars, and shops. The sponsor sale carries no purchasing restrictions and does not require a board application. Marketing photographs depict a model unit; fixtures and finishes are represented accordingly. Offering terms are contained in the sponsor’s offering plan, File No. C870154.
Located in Ditmas Park, the property offers access to Prospect Park, transportation, recreation, and neighborhood restaurants, bars, and shops. The sponsor sale carries no purchasing restrictions and does not require a board application. Marketing photographs depict a model unit; fixtures and finishes are represented accordingly. Offering terms are contained in the sponsor’s offering plan, File No. C870154.
Key Highlights
- 957 SF residence with 2 bedrooms and 2 bathrooms
- Renovated interior with open layout, custom cabinetry, recessed lighting, and wide‑plank oak floors
- In‑unit laundry, ample storage, and southeast and northeast exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,216
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,320
$584.3K
Cap Rate 7%
$417,371
$417.4K
Cap Rate 9%
$324,622
$324.6K
Market Conditions
NOI Build-Up for 957 SF
Gross rent
$54.2K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$53.1K $55.51/SF
− OpEx
−$23.9K −$24.98/SF
NOI
$29.2K $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%
$584,320
Cap Rate 7%
$417,371
Cap Rate 9%
$324,622
Alternative Uses
Best Use
Apartment 5plus
$417.4K
$365.2K – $486.9K
NOI $29,216 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$792.4K
$693.4K – $924.5K
NOI $55,468 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath residence with modern finishes, private laundry, elevator access, and building amenities.
Where is this residential income property located?
The property is located at 1111 Ocean Avenue 606 Brooklyn, NY.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 957 SF residence with 2 bedrooms and 2 bathrooms; Renovated interior with open layout, custom cabinetry, recessed lighting, and wide‑plank oak floors; In‑unit laundry, ample storage, and southeast and northeast exposures
