South-Facing Duplex
For Sale
$785,000
2833 OCEAN Parkway 2/3C, Brooklyn, NY 11235
Two-level duplex condo with private balconies, hardwood floors, and a covered semi-private parking space included.
Property Size1,401 SF
Price / SF$560.31
Days on Market33
Property Features for 2833 OCEAN Parkway 2/3C
General Information
Standard status
Active
Size
1,401 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Furnished
No
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
1
Amenities
private balcony
hardwood floors
PTAC heating and air conditioning
video intercom
in-unit washer/dryer
Building Details
Building Size
1,401 SF
Year Built
2009
Listing Agency:
Douglas Elliman Real Estate
(646) 256-0899
Listed By:
Oleg Polonsky · License #10301210984
(646) 256-0899
Source:
Carlinwright
Added: Jul 14
Changed: Aug 11
Last Checked: Aug 14 at 1:15PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
A south-facing duplex condominium offering the feel of a private home with the convenience of condo living. Built in 2009, the residence features a bright main level with recessed lighting, a private balcony, and an adjacent designer kitchen with quartz countertops, a breakfast bar, an under-mount sink, and stainless steel appliances including a dishwasher and vented microwave (with a 30-inch stove). A half bathroom completes the main level.
Upstairs, the king-size primary bedroom includes two closets, a private balcony, and an en-suite full bathroom. The second bedroom is queen-size with a double closet, and there is a second full bathroom for added convenience. Hardwood floors run throughout, with ceilings nearly 9 feet high. Each room is equipped with its own PTAC heating and air conditioning unit. Additional amenities include a sprinkler system, video intercom, and an in-unit front-loading washer and dryer.
A covered, semi-private parking space for a mid-size sedan is also included. The building is located between Brighton Beach and Manhattan Beach, with shopping along Brighton Beach Avenue and dining nearby. Transportation is accessible via the B and Q trains at Brighton Beach and the Q train at Ocean Parkway. Furniture shown in the photos is not included in the sale.
Upstairs, the king-size primary bedroom includes two closets, a private balcony, and an en-suite full bathroom. The second bedroom is queen-size with a double closet, and there is a second full bathroom for added convenience. Hardwood floors run throughout, with ceilings nearly 9 feet high. Each room is equipped with its own PTAC heating and air conditioning unit. Additional amenities include a sprinkler system, video intercom, and an in-unit front-loading washer and dryer.
A covered, semi-private parking space for a mid-size sedan is also included. The building is located between Brighton Beach and Manhattan Beach, with shopping along Brighton Beach Avenue and dining nearby. Transportation is accessible via the B and Q trains at Brighton Beach and the Q train at Ocean Parkway. Furniture shown in the photos is not included in the sale.
Key Highlights
- 2009‑built south‑facing duplex condominium with two private balconies
- 1,401 SF residence with nearly 9‑foot ceilings and hardwood floors
- Main‑level kitchen with quartz countertops plus stainless appliances including a vented microwave
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
$42,771
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
5.45%
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%
$855,420
$855.4K
Cap Rate 7%
$611,014
$611.0K
Cap Rate 9%
$475,233
$475.2K
Market Conditions
NOI Build-Up for 1,401 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
$79.4K $56.64/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$77.8K $55.51/SF
− OpEx
−$35.0K −$24.98/SF
NOI
$42.8K $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 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%
$855,420
Cap Rate 7%
$611,014
Cap Rate 9%
$475,233
Alternative Uses
Best Use
Apartment 5plus
$611.0K
$534.6K – $712.9K
NOI $42,771 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,202 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level duplex condo with private balconies, hardwood floors, and a covered semi-private parking space included.
Where is this residential income property located?
The property is located at 2833 OCEAN Parkway 2/3C Brooklyn, NY.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 2009‑built south‑facing duplex condominium with two private balconies; 1,401 SF residence with nearly 9‑foot ceilings and hardwood floors; Main‑level kitchen with quartz countertops plus stainless appliances including a vented microwave
