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2145 Ocean Ave 40 Unit Apartment Building $8,150,000 ($203,750/Unit) 6.02% Cap Rate Brooklyn, NY 11229
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 6.02 Cap 100% Occupied 40 Unit Apartment Building On A Huge 11,000 Sqft. Lot In Brooklyn For Sale!!!
- The Property Is Located In The Heart Of Madison Just Off Kings Hwy. Near Kings Plaza & Minutes From The Belt Pkwy.!!!
- This Property Offers HUGE Upside Potential!!!
- The Property Features Excellent Signage, Great Exposure, R7A Zoning, High 9’ Ceilings, 2 Skylights, 4 Stories, 3 Phase Power, New LED Lighting, +++!!!
- Neighbors Include T-Mobile, Target, ShopRite, CubeSmart Self Storage, Extra Space Storage, Staples, Petco, T.J. Maxx, CVS, Dunkin’, Walgreens, +++!!!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 6.02 Cap 100% Occupied 40 Unit Apartment Building On A Huge 11,000 Sqft. Lot In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R7A Zoning, High 9’ Ceilings, 2 Skylights, 4 Stories, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Madison Just Off Kings Hwy. Near Kings Plaza & Minutes From The Belt Pkwy.!!! Neighbors Include T-Mobile, Target, ShopRite, CubeSmart Self Storage, Extra Space Storage, Staples, Petco, T.J. Maxx, CVS, Dunkin’, Walgreens, Burlington, Michaels, CityMD, Meineke Car Care Center, Raising Cane’s, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Apt A1: $15,270.72 Ann.; Lease Exp.: 11/30/27.
Apt. A2: $14,159.76 Ann.; Lease Exp.: 10/14/26.
Apt. A3: $18,852.72 Ann.; Lease Exp.: 8/31/27.
Apt. A4: $21,600 Ann. Super.
Apt. A5: $16,561.08 Ann.; Lease Exp.: 9/30/27.
Apt. A6: $15,529.56 Ann.; Lease Exp.: 5/31/28.
Apt. A7: $16,469.28 Ann.; Lease Exp.: 5/31/27.
Apt. A8: $17,205.96 Ann.; Lease Exp.: 12/31/27.
Apt. A9: $16,978.80 Ann.; Lease Exp.: 5/31/28.
Apt. A10: $16,15896 Ann.; Lease Exp.: 4/30/27.
Apt. B1: $25,200 Ann.; Lease Exp.: 3/31/27.
Apt. B2: $14,675.16 Ann.; Lease Exp.: 8/31/26.
Apt. B3: $15,154.92 Ann.; Lease Exp.: 6/30/27.
Apt. B4: $23,356.20 Ann.; Lease Exp.: 8/31/26.
Apt. B5: $16,860.84 Ann.; Lease Exp.: 7/31/27.
Apt. B6: $19,988.88 Ann.; Lease Exp.: 4/30/27.
Apt. B7: $15,993.72 Ann.; Lease Exp.: 5/31/27.
Apt. B8: $17,700 Ann.; Lease Exp.: 2/28/27.
Apt. B9: $12,975.48 Ann.; Lease Exp.: 3/31/27.
Apt. B10: $18,171.48 Ann.; Lease Exp.: 11/30/26.
Apt. C1: $24,291.96 Ann.; Lease Exp.: 5/31/28.
Apt. C2: $16,456.68 Ann.; Lease Exp.: 12/31/26.
Apt. C3: $17,556 Ann.; Lease Exp.: 12/31/27.
Apt. C4: $12,715.08 Ann.; Lease Exp.: 3/31/27.
Apt. C5: $18,776,04 Ann.; Lease Exp.: 11/30/27.
Apt. C6: $19,192.08 Ann.; Lease Exp.: 11/30/26.
Apt. C7: $19,200 Ann.; Lease Exp.: 4/30/28.
Apt. C8: $16,176.60 Ann.; Lease Exp.: 5/31/28.
Apt. C9: $19,662.48 Ann.; Lease Exp.: 5/31/28.
Apt. C10: $17,987.40 Ann.; Lease Exp.: 1/31/28.
Apt. D1: $22,354.08 Ann.; Lease Exp.: 3/31/27.
Apt. D2: $17,825.04 Ann.; Lease Exp.: 7/31/26.
Apt. D3: $18,112.68 Ann.; Lease Exp.: 12/31/26.
Apt. D4: $23,038.92 Ann.; Lease Exp.: 8/31/26.
Apt. D5: $17,734.68 Ann.; Lease Exp.: 8/31/26.
Apt. D6: $18,355.20 Ann.; Lease Exp.: 5/31/28.
Apt. D7: $16,810.44 Ann.; Lease Exp.: 12/31/26.
Apt. D8: $17,642.16 Ann.; Lease Exp.: 2/28/28.
Apt. D9: $16,823.64 Ann.; Lease Exp.: 5/31/28.
Apt. D10: $16,686 Ann.; Lease Exp.: 2/28/27.
Gross Income: $716,260.68 Ann.
Expenses:
Fuel: $43,031.92 Ann.
Electric: $2,861.80 Ann.
Water & Sewer: $33,764.48 Ann.
Insurance: $17,954.11 Ann.
Maintenance & Repairs: $19,964.95 Ann.
Taxes: $107,930.10 Ann.
Total Expenses: $225,507.36 Ann.
Net Operating Income (NOI): $490,753.32 Ann. (6.02% Cap!!!)
Income:
Apt A1: $15,270.72 Ann.; Lease Exp.: 11/30/27.
Apt. A2: $14,159.76 Ann.; Lease Exp.: 10/14/26.
Apt. A3: $18,852.72 Ann.; Lease Exp.: 8/31/27.
Apt. A4: $21,600 Ann. Super.
Apt. A5: $16,561.08 Ann.; Lease Exp.: 9/30/27.
Apt. A6: $15,529.56 Ann.; Lease Exp.: 5/31/28.
Apt. A7: $16,469.28 Ann.; Lease Exp.: 5/31/27.
Apt. A8: $17,205.96 Ann.; Lease Exp.: 12/31/27.
Apt. A9: $16,978.80 Ann.; Lease Exp.: 5/31/28.
Apt. A10: $16,15896 Ann.; Lease Exp.: 4/30/27.
Apt. B1: $25,200 Ann.; Lease Exp.: 3/31/27.
Apt. B2: $14,675.16 Ann.; Lease Exp.: 8/31/26.
Apt. B3: $15,154.92 Ann.; Lease Exp.: 6/30/27.
Apt. B4: $23,356.20 Ann.; Lease Exp.: 8/31/26.
Apt. B5: $16,860.84 Ann.; Lease Exp.: 7/31/27.
Apt. B6: $19,988.88 Ann.; Lease Exp.: 4/30/27.
Apt. B7: $15,993.72 Ann.; Lease Exp.: 5/31/27.
Apt. B8: $17,700 Ann.; Lease Exp.: 2/28/27.
Apt. B9: $12,975.48 Ann.; Lease Exp.: 3/31/27.
Apt. B10: $18,171.48 Ann.; Lease Exp.: 11/30/26.
Apt. C1: $24,291.96 Ann.; Lease Exp.: 5/31/28.
Apt. C2: $16,456.68 Ann.; Lease Exp.: 12/31/26.
Apt. C3: $17,556 Ann.; Lease Exp.: 12/31/27.
Apt. C4: $12,715.08 Ann.; Lease Exp.: 3/31/27.
Apt. C5: $18,776,04 Ann.; Lease Exp.: 11/30/27.
Apt. C6: $19,192.08 Ann.; Lease Exp.: 11/30/26.
Apt. C7: $19,200 Ann.; Lease Exp.: 4/30/28.
Apt. C8: $16,176.60 Ann.; Lease Exp.: 5/31/28.
Apt. C9: $19,662.48 Ann.; Lease Exp.: 5/31/28.
Apt. C10: $17,987.40 Ann.; Lease Exp.: 1/31/28.
Apt. D1: $22,354.08 Ann.; Lease Exp.: 3/31/27.
Apt. D2: $17,825.04 Ann.; Lease Exp.: 7/31/26.
Apt. D3: $18,112.68 Ann.; Lease Exp.: 12/31/26.
Apt. D4: $23,038.92 Ann.; Lease Exp.: 8/31/26.
Apt. D5: $17,734.68 Ann.; Lease Exp.: 8/31/26.
Apt. D6: $18,355.20 Ann.; Lease Exp.: 5/31/28.
Apt. D7: $16,810.44 Ann.; Lease Exp.: 12/31/26.
Apt. D8: $17,642.16 Ann.; Lease Exp.: 2/28/28.
Apt. D9: $16,823.64 Ann.; Lease Exp.: 5/31/28.
Apt. D10: $16,686 Ann.; Lease Exp.: 2/28/27.
Gross Income: $716,260.68 Ann.
Expenses:
Fuel: $43,031.92 Ann.
Electric: $2,861.80 Ann.
Water & Sewer: $33,764.48 Ann.
Insurance: $17,954.11 Ann.
Maintenance & Repairs: $19,964.95 Ann.
Taxes: $107,930.10 Ann.
Total Expenses: $225,507.36 Ann.
Net Operating Income (NOI): $490,753.32 Ann. (6.02% Cap!!!)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$716,261
|
$19.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$716,261
|
$19.05
|
| Taxes |
$107,930
|
$2.87
|
| Operating Expenses |
$117,577
|
$3.13
|
| Total Expenses |
$225,507
|
$6.00
|
| Net Operating Income |
$490,754
|
$13.05
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $716,261 |
| Annual Per SF | $19.05 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $716,261 |
| Annual Per SF | $19.05 |
| Taxes | |
|---|---|
| Annual | $107,930 |
| Annual Per SF | $2.87 |
| Operating Expenses | |
|---|---|
| Annual | $117,577 |
| Annual Per SF | $3.13 |
| Total Expenses | |
|---|---|
| Annual | $225,507 |
| Annual Per SF | $6.00 |
| Net Operating Income | |
|---|---|
| Annual | $490,754 |
| Annual Per SF | $13.05 |
Property Facts
| Price | $8,150,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $203,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.02% | Building Size | 37,600 SF |
| No. Units | 40 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | R7A | ||
| Price | $8,150,000 |
| Price Per Unit | $203,750 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 37,600 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1925 |
| Zoning | R7A |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Security System
- Tenant Controlled HVAC
- Storage Space
- Bicycle Storage
- Maintenance on site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 40 | - | - |
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06783-0057 | Total Assessment | $1,179,450 (2026) |
| Land Assessment | $148,500 (2026) | Annual Taxes | $107,930 ($2.87/SF) |
| Improvements Assessment | $1,030,950 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
06783-0057
Land Assessment
$148,500 (2026)
Improvements Assessment
$1,030,950 (2026)
Total Assessment
$1,179,450 (2026)
Annual Taxes
$107,930 ($2.87/SF)
Tax Year
2025
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2145 Ocean Ave