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Ocean Hill Multifamily Investment Opportunity

192 Rockaway Ave, Brooklyn, NY 11233

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Partially rent-stabilized multifamily asset in Ocean Hill, Brooklyn.

Type:Multifamily

Property size:

5,400 SF

Price / SF:

$425/SF

HighLights

Income‑producing multifamily asset in Ocean Hill, Brooklyn.
Mix of 5 rent‑stabilized and 3 free‑market units.
Units 3A and 3B are legally rent‑stabilized but renovated and achieving market rents.
Total of 8 residential units (5,400 SF).
Favorable unit mix: one 3‑bedroom, six 2‑bedroom, and one studio.
Located in Ocean Hill, near Bedford–Stuyvesant, Crown Heights, and Brownsville.

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Peter Matheos

For Sale

Contact for pricing

Partially rent-stabilized multifamily asset in Ocean Hill, Brooklyn.

Type:Multifamily

Property size:

5,400 SF

Price / SF:

$425/SF

Added:: Feb 24, 2026
Days on Market:: 134
Last Refresh:: Jul 5 at 7:57 am

Property Features for 192 Rockaway Ave

General Information

Standard status: Active
Size: 5,400 SF
Property subtype: Multifamily

Building Details

Year Built: 1920

We can help!

Contact an agent

Peter Matheos

Listing office Matheos Realty Group

Listing date Feb 24, 2026

Source Crexi

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 Matheos Realty Group

HighLights

Income‑producing multifamily asset in Ocean Hill, Brooklyn.
Mix of 5 rent‑stabilized and 3 free‑market units.
Units 3A and 3B are legally rent‑stabilized but renovated and achieving market rents.
Total of 8 residential units (5,400 SF).
Favorable unit mix: one 3‑bedroom, six 2‑bedroom, and one studio.
Located in Ocean Hill, near Bedford–Stuyvesant, Crown Heights, and Brownsville.

Overview

Located in Ocean Hill, Brooklyn, this multifamily property offers an income-producing asset with a mix of rent-stabilized and free-market units. The property is situated between Bedford–Stuyvesant, Crown Heights, and Brownsville, providing accessible city living within a calm, tree-lined residential environment. The building comprises 8 residential units, totaling approximately 5,400 square feet. The unit mix includes one three-bedroom unit, six two-bedroom units, and one studio. Notably, Units 3A and 3B are legally rent-stabilized but have been fully renovated and are currently achieving market rents, offering meaningful upside and operational flexibility.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$305.9k	$56.64
− Vacancy	−$6.1k	−$1.13
EGI	$299.7k	$55.51
− OpEx	−$134.9k	−$24.98
NOI	$164.9k	$30.53

5,400 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $164,856 @ 7.0% cap · market cap 7.17%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$4.47M

$3.91M – $5.22M (±1% cap)

NOI $312,984 @ 7.0% cap · market cap 13.61%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Brooklyn
County: Kings
State: New York
Longitude: -73.911166
Latitude: 40.676666

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For sale
Apartment buildings
NY
Brooklyn
11233
192 Rockaway Ave

What type of property is this?

Apartment building - Partially rent-stabilized multifamily asset in Ocean Hill, Brooklyn.

Where is this apartment building located?

The property is located at 192 Rockaway Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: Income‑producing multifamily asset in Ocean Hill, Brooklyn.; Mix of 5 rent‑stabilized and 3 free‑market units.; Units 3A and 3B are legally rent‑stabilized but renovated and achieving market rents.