Renovated Residential Income
For Sale
$335,000
2727 Ocean Parkway C27, Brooklyn, NY 11235
Updated cooperative residence offers flexible rooms, natural light, elevator access, and subletting after one year.
Property Size1,000 SF
Price / SF$335
Days on Market112
Property Features for 2727 Ocean Parkway C27
General Information
Standard status
Active
Size
1,000 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Building Details
Building Size
1,000 SF
Year Built
1956
Listing Agency:
Compass
Listed By:
Boris Kerzhner
(347) 721-5348
Source:
Howardhannanyc
Added: May 20
Changed: Sep 4
Last Checked: Sep 7 at 7:28AM
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.
Residence C27 is a 1,000-square-foot Junior 4 home in a 1956 elevator cooperative at 2727 Ocean Parkway. The renovated interior features a formal dining area, oversized living room with hardwood floors, and a windowed bonus room suited to use as a nursery, office, or guest bedroom. A refreshed galley kitchen includes updated cabinetry, countertops, stainless steel appliances, and ample storage. The spacious primary bedroom, renovated windowed bathroom, generous closets, updated lighting, and natural light throughout complete the layout.
The property is positioned in Southern Brooklyn with access to subway lines, local and express buses, the Belt Parkway, grocery stores, cafes, restaurants, and shopping. Pets are allowed, and subletting is permitted after one year.
The property is positioned in Southern Brooklyn with access to subway lines, local and express buses, the Belt Parkway, grocery stores, cafes, restaurants, and shopping. Pets are allowed, and subletting is permitted after one year.
Key Highlights
- 1,000 SF Junior 4 residence in a 1956 elevator cooperative
- Renovated galley kitchen with stainless steel appliances and generous cabinet storage
- Windowed bonus room can serve as a nursery, home office, or guest bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,529
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,580
$610.6K
Cap Rate 7%
$436,129
$436.1K
Cap Rate 9%
$339,211
$339.2K
Market Conditions
NOI Build-Up for 1,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.6K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$55.5K $55.51/SF
− OpEx
−$25.0K −$24.98/SF
NOI
$30.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,580
Cap Rate 7%
$436,129
Cap Rate 9%
$339,211
Alternative Uses
Best Use
Apartment 5plus
$436.1K
$381.6K – $508.8K
NOI $30,529 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$828.0K
$724.5K – $966.0K
NOI $57,960 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,539
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated cooperative residence offers flexible rooms, natural light, elevator access, and subletting after one year.
Where is this residential income property located?
The property is located at 2727 Ocean Parkway C27 Brooklyn, NY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,000 SF Junior 4 residence in a 1956 elevator cooperative; Renovated galley kitchen with stainless steel appliances and generous cabinet storage; Windowed bonus room can serve as a nursery, home office, or guest bedroom
