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1191 Ocean Ave
Brooklyn, NY 11230
Multifamily Property For Sale
·
25 Units
Investment Highlights
- 42' Frontage | Elevator Building | Built in 2017
- 9 2BR | 11 1BR | 1 Studio | 1 2BD Duplex
- Private Rear Courtyard
- 8 Stories Building | 22 Units
- Tax Abatement Expires June 2033
- Close to Public Transportation
Executive Summary
Presenting a rare opportunity to acquire a modern 22-unit residential building located at 1191 Ocean Ave in the heart of Brooklyn’s vibrant Midwood neighborhood. Built in 2017, this impressive eight-story elevator building offers 42 feet of frontage and features a well-balanced unit mix consisting of nine two-bedroom apartments, eleven one-bedroom apartments, one studio, and a spacious two-bedroom duplex. The property benefits from a tax abatement in place through June 2033, providing investors with significant long-term value and predictable operating expenses.
Designed for both comfort and convenience, the building includes a private rear courtyard that offers residents a quiet outdoor retreat. Its prime Ocean Avenue location places it within close proximity to public transportation, making commuting throughout Brooklyn and into Manhattan both easy and efficient. With its modern construction, attractive unit distribution, and strong location in a desirable residential corridor, this property represents an exceptional investment opportunity in one of Brooklyn’s established neighborhoods.
Designed for both comfort and convenience, the building includes a private rear courtyard that offers residents a quiet outdoor retreat. Its prime Ocean Avenue location places it within close proximity to public transportation, making commuting throughout Brooklyn and into Manhattan both easy and efficient. With its modern construction, attractive unit distribution, and strong location in a desirable residential corridor, this property represents an exceptional investment opportunity in one of Brooklyn’s established neighborhoods.
Property Facts
| Price Per Unit | $367,960 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.35% | Lot Size | 0.11 AC |
| No. Units | 25 | Building Size | 22,000 SF |
| Property Type | Multifamily | No. Stories | 8 |
| Property Subtype | Apartment | Year Built | 2017 |
| Zoning | R7A | ||
| Price Per Unit | $367,960 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 22,000 SF |
| No. Stories | 8 |
| Year Built | 2017 |
| Zoning | R7A |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | - | 425 |
Property Taxes
| Parcel Number | 05241-0013 | Improvements Assessment | $1,383,750 |
| Land Assessment | $242,100 | Total Assessment | $1,625,850 |
Property Taxes
Parcel Number
05241-0013
Land Assessment
$242,100
Improvements Assessment
$1,383,750
Total Assessment
$1,625,850
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