192 Rockaway Ave - Apartments FOR SALE


Brooklyn, NY 11233- Ocean Hill
$2,300,000 USD
212-381-6057
192 Rockaway Ave, Brooklyn, NY for Sale
$2,300,000 USD
Apartments - FOR SALE
1/7
null | 7.29% Cap Rate

192 Rockaway Ave
Brooklyn, NY 11233
Ocean Hill


HIGHLIGHTS

  • Eight-unit multifamily building totaling approximately 5,400 SF.
  • Three free-market units and five rent-stabilized units, two of which are paying market rent.
  • Five of eight units have been fully renovated, reducing future capital needs.
  • Located near A and C subway lines, providing efficient access to Manhattan and Brooklyn.
  • Tax Class 2B with capped assessment increases for long-term tax stability.
  • Positioned in a growing neighborhood with strong rental demand and transit connectivity.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$426 USD /SF

# OF UNITS

8

PRICE/UNIT

$287,500

CAP RATE

7.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rockaway Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,137 SF

ZONING

R5, C2-3

APN/PARCEL ID

01567-0040

ASK ABOUT THIS PROPERTY

Peter MatheosMatheos RealtyMore Info
212-381-6057

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Peter MatheosMatheos RealtyMore Info
212-381-6057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.