510 Ocean Ave - Apartments FOR SALE


Brooklyn, NY 11226- Prospect Park
$6,595,000 USD
917-969-4292
510 Ocean Ave, Brooklyn, NY for Sale
$6,595,000 USD
Apartments - FOR SALE
1/5
null | 9.61% Cap Rate

510 Ocean Ave
Brooklyn, NY 11226
Prospect Park


HIGHLIGHTS

  • Mixed-use elevator building in prime Prospect Park area
  • Strong in-place cash flow with 9.5% cap rate
  • Ground-floor commercial space occupied by long-standing neighborhood pharmacy
  • Immediate yield with long-term upside potential
  • Heavy daytime foot traffic along Ocean Avenue

OVERVIEW

510 Ocean Avenue presents a rare opportunity to acquire a mixed-use elevator building in the heart of Brooklyn, just steps from Prospect Park and multiple transit options. The property consists of ground-floor commercial space with residential units above and is offered at an attractive basis with strong in-place cash flow. The building is offered for sale at $6,595,000, representing a 9.5% cap rate and approximately $220 per square foot. Current gross income is $941,009.68, with a stabilized NOI of approximately $633,980, assuming a conservative 3% vacancy rate. Located in a high-barrier-to-entry Brooklyn submarket with excellent walkability and transit access, 510 Ocean Avenue offers investors immediate yield, long-term income stability, and future upside through rent growth and operational efficiencies.

FOR SALE DETAILS

PRICE

$6,595,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

33

PRICE/UNIT

$199,848

CAP RATE

9.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,831 SF

ZONING

R7A

APN/PARCEL ID

05080-0068

ASK ABOUT THIS PROPERTY

Jack Sash BasoraTahari RealtyMore Info
917-969-4292

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Jack Sash BasoraTahari RealtyMore Info
917-969-4292

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