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192 Rockaway Ave
Brooklyn, NY 11233
Rockaway Ave Apartments · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Eight-unit multifamily building totaling approximately 5,400 SF.
- Five of eight units have been fully renovated, reducing future capital needs.
- Tax Class 2B with capped assessment increases for long-term tax stability.
- Three free-market units and five rent-stabilized units, two of which are paying market rent.
- Located near A and C subway lines, providing efficient access to Manhattan and Brooklyn.
- Positioned in a growing neighborhood with strong rental demand and transit connectivity.
Executive Summary
Matheos Realty Group has been exclusively retained to represent ownership in the sale of a mostly renovated, partially rentstabilized, income-producing, multifamily asset located in Ocean Hill, Brooklyn. Situated between Bedford–Stuyvesant,Crown Heights, and Brownsville, Ocean Hill provides more accessible city living while preserving a calm, tree-linedresidential feel.
The property comprises 8 residential units totaling approximately 5,400 SF, including 5 rent-stabilized units and 3 freemarket units. The unit mix consists of one (1) three-bedroom, six (6) two-bedroom units, and one (1) studio. Notably, Units3A and 3B are legally rent-stabilized but have been fully renovated and are currently achieving market rents, offeringmeaningful upside and operational flexibility.
Ideally positioned near the A and C subway lines, just a short walk away the property provides efficient access to Manhattanand greater Brooklyn. Located in the rapidly evolving Ocean Hill neighborhood, the asset benefits from strong rentaldemand, improving neighborhood fundamentals, and long-term appreciation potential.
The property comprises 8 residential units totaling approximately 5,400 SF, including 5 rent-stabilized units and 3 freemarket units. The unit mix consists of one (1) three-bedroom, six (6) two-bedroom units, and one (1) studio. Notably, Units3A and 3B are legally rent-stabilized but have been fully renovated and are currently achieving market rents, offeringmeaningful upside and operational flexibility.
Ideally positioned near the A and C subway lines, just a short walk away the property provides efficient access to Manhattanand greater Brooklyn. Located in the rapidly evolving Ocean Hill neighborhood, the asset benefits from strong rentaldemand, improving neighborhood fundamentals, and long-term appreciation potential.
Property Facts
| Price Per Unit | $287,500 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.29% | Lot Size | 0.05 AC |
| No. Units | 8 | Building Size | 5,400 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R5, C2-3 - Medium density district with a height limit of 40 feet | ||
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 7.29% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,400 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | R5, C2-3 - Medium density district with a height limit of 40 feet |
Property Taxes
| Parcel Number | 01567-0040 | Improvements Assessment | $308,250 |
| Land Assessment | $5,400 | Total Assessment | $313,650 |
Property Taxes
Parcel Number
01567-0040
Land Assessment
$5,400
Improvements Assessment
$308,250
Total Assessment
$313,650
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