2145 Ocean AveBrooklyn, NY 11229

Property Details for 2145 Ocean Ave

Year built

1925

Lot size

0.25 AC

Property size (Sq ft)

30,800 SF

Zone code

R7A

Property type

Apartment buildings

APN

06783-0057

APU

67830057

Description

This exceptional investment opportunity presents a 40-unit apartment building located at 2145 Ocean Avenue in Brooklyn, New York, within the R7A zoning district. The property boasts a substantial 37,600 square feet of space, situated on an 11,000 square foot lot. Constructed in 1925, this four-story building comprises one building and offers a diverse mix of units: 28 one-bedroom apartments, 2 studio apartments, and 10 spacious two-bedroom apartments. The building enjoys a prime location bordering Madison and Prospect Park, providing convenient access to local amenities, restaurants, shops, and public transportation. Its strong financial performance is evidenced by a Net Operating Income (NOI) of $440,233. The asking price for this well-maintained property is $8,500,000. This represents a compelling opportunity to acquire a piece of Brooklyn's rich real estate history, offering significant potential for future growth and return on investment. The building's character and durable construction, combined with its desirable location and strong income stream, make it an attractive proposition for discerning investors. The property's zip code is 11229, and it is located in Kings County.

• CAP approach

  CAP return

  Valuation

  6%

  $6,314,278

  6.5%

  $5,828,564

  7%

  $5,412,238

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,237,708

  Geo Method

  $6,237,708

• Alternative Use

  Use

  Valuation

  Residential

  $5,828,564

  Hospitality

  $5,338,934

  Educational

  $4,441,930

  Medical

  $4,594,695

  Retail

  $6,909,670

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6096

Longitude

-73.953

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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