Well-Maintained Four Family
For Sale
$1,229,000
115 Ocean View Avenue, Brooklyn, NY 11235
Four family home with spacious units and outdoor space.
Property Size1,300 SF
Price / SF$945.38
Days on Market541
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 115 Ocean View Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$20,000
Listing Agency:
Ilite Realty Inc
Listed By:
Igor Libo
(718) 975-0555
Source:
Exitrealty
Added: Apr 23, 2025
Changed: Sep 1
Last Checked: Sep 15 at 5:26AM
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 Ilite Realty Inc
Investment Insights
Based on property information with market context.
This well-maintained, free market four family home is ideally situated right off Ocean Parkway. It features spacious 1, 2, and 3 bedroom units with smart layouts and outdoor space. Its prime location adds significant appeal and value, representing an exceptional opportunity. With its recent updates and versatile layout, it offers a combination of a home for a family and a profitable investment. The location has a bike score of 72, making it very bikeable, a walk score of 94, designating it as a walker's paradise, and a transit score of 97, classifying it as a rider's paradise.
Key Highlights
- Prime location right off Ocean Parkway.
- Free market four family home.
- High walk score (94) and transit score (97).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,528
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,560
$910.6K
Cap Rate 7%
$650,400
$650.4K
Cap Rate 9%
$505,867
$505.9K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$66.3K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$65.0K $50.03/SF
− OpEx
−$19.5K −$15.01/SF
NOI
$45.5K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,560
Cap Rate 7%
$650,400
Cap Rate 9%
$505,867
Alternative Uses
Best Use
Multifamily LT 5
$650.4K
$569.1K – $758.8K
NOI $45,528 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$567.0K
$496.1K – $661.5K
NOI $39,688 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.08M
$941.9K – $1.26M
NOI $75,348 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four family home with spacious units and outdoor space.
Where is this quadplex located?
The property is located at 115 Ocean View Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,229,000.
What are key features of this property?
This property features: Prime location right off Ocean Parkway.; Free market four family home.; High walk score (94) and transit score (97).
