Renovated Residential Income
For Sale
$685,000
1111 Ocean Avenue 408, Brooklyn, NY 11230
The two-bedroom, two-bath residence includes in-unit laundry and access to an elevator, fitness center, and bike storage.
Property Size1,043 SF
Price / SF$656.76
Days on Market9
Property Features for 1111 Ocean Avenue 408
General Information
Standard status
Active
Size
1,043 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
pet-friendly
fitness center
bike storage
package receiving
in-unit laundry
Building Details
Building Size
1,043 SF
Year Built
1954
Listing Agency:
Compass
Listed By:
Matthew Pucker · License #10301208042
(917) 981-1107
Source:
Howardhannanyc
Added: Oct 22
Changed: Oct 28
Last Checked: Oct 28 at 3:21PM
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 1,043-square-foot residence at 1111 Ocean Avenue has two bedrooms, two bathrooms, and an en-suite. The home is described as renovated, with an open layout, north- and west-facing exposures, in-unit laundry, and storage. The building dates to 1954 and has an elevator, fitness center, bike storage, and package receiving. Indoor private parking is available for purchase.
The property is in Brooklyn’s Ditmas Park area, with Prospect Park, transit, recreation, restaurants, bars, and shops noted among the nearby amenities. The sale is identified as a sponsor sale without a board application process. Marketing photographs depict a model unit and illustrate fixtures and finishes.
The property is in Brooklyn’s Ditmas Park area, with Prospect Park, transit, recreation, restaurants, bars, and shops noted among the nearby amenities. The sale is identified as a sponsor sale without a board application process. Marketing photographs depict a model unit and illustrate fixtures and finishes.
Key Highlights
- 1,043‑square‑foot residence with two bedrooms and two bathrooms
- En‑suite bedroom and in‑unit laundry
- North- and west‑facing exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,842
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,840
$636.8K
Cap Rate 7%
$454,886
$454.9K
Cap Rate 9%
$353,800
$353.8K
Market Conditions
NOI Build-Up for 1,043 SF
Gross rent
$59.1K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$57.9K $55.51/SF
− OpEx
−$26.1K −$24.98/SF
NOI
$31.8K $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%
$636,840
Cap Rate 7%
$454,886
Cap Rate 9%
$353,800
Alternative Uses
Best Use
Apartment 5plus
$454.9K
$398.0K – $530.7K
NOI $31,842 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$863.6K
$755.7K – $1.01M
NOI $60,452 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 two-bedroom, two-bath residence includes in-unit laundry and access to an elevator, fitness center, and bike storage.
Where is this residential income property located?
The property is located at 1111 Ocean Avenue 408 Brooklyn, NY.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 1,043‑square‑foot residence with two bedrooms and two bathrooms; En‑suite bedroom and in‑unit laundry; North- and west‑facing exposures
