2057 Ocean Ave
Listing Notes
The Forray Team at The Corcoran Group is pleased to exclusively represent 2057 Ocean Avenue, a six-unit multifamily masonry building offering strong cash flow, and an attractive entry point into one of Brooklyn's most established residential neighborhoods. Located in the heart of Midwood, this income producing property presents a compelling opportunity for investors seeking immediate yield with attractive price point. At the asking price of $1,200,000, the opportunity of an attractive 8.39% CAP Rate is unheard of it in this market. Constructed in 1925, the building contains approximately 4,800SF above grade in addition to 1,500SF full height basement. The building size is 25 x 75FT sitting on a 25 ft 110FT Lot totaling approx. 2,750 Lot SF. Zoned R7A, the asset benefits from an as-built FAR of approximately 1.75 and an allowable FAR of 4.0, providing an estimated 6,200SF of additional buildable area and a total potential buildable area of approximately 11,000SF creating meaningful future long-term redevelopment/expansion opportunities. Annual RE taxes are currently $24,047 with Tax Class 2A. The layout consists of six (6) residential apartments, each consisting of a two-bedroom, one-bathroom layout. Several units are occupied by a non-profit entity providing stable/consistent income. Current gross annual revenue is $158,076. Ideally situated along Ocean Avenue, the property enjoys convenient access to neighborhood shopping, dining, community centers, and public transportation. Residents benefit from proximity to the B and Q at Kings Highway subway station (0.3 miles), providing direct connectivity to Manhattan and throughout Brooklyn. Midwood continues to attract tenants seeking a balance of neighborhood character, accessibility, and value, supporting strong long-term rental demand.
Price in context
Cheaper than 29% of the 24 homes listed nearby right now, which run $667,000 to $1,650,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 1408 Avenue O Apt 2 | $667,000 | 2 bd · 2 ba |
| 1749 E 16th St Apt 3A | $719,000 | 3 bd · 2 ba |
| 2218 Ocean Ave Apt 5A | $722,000 | 2 bd · 2 ba |
| 2183 Ocean Ave Unit 3E | $730,000 | 2 bd · 2 ba |
| 2131 Ocean Ave Apt 3B | $735,000 | 2 bd · 2 ba |
| 2158 Ocean Ave Apt 7B | $739,000 | 2 bd · 2 ba |
| 2131 Ocean Ave Apt 3B | $745,000 | 2 bd · 2 ba |
| 2068 Ocean Ave Apt 8A | $749,000 | 2 bd · 2 ba |
| 1484 E 16th St | $799,999 | 3 bd · 1 ba |
| 1918 Avenue O | $896,999 | 2 bd · 3 ba |
| 2222 Ocean Ave # B | $975,000 | 2 bd · 2 ba |
| 1764 E 22nd St | $998,000 | 3 bd · 2 ba |
| 1512 E 22nd St | $999,000 | 4 bd · 3 ba |
| 1737 E 21st St Unit 8A | $1,095,000 | 3 bd · 2 ba |
| 1473 E 23rd St | $1,095,000 | 3 bd · 3 ba |
| 1613 E 15th St | $1,130,000 | 4 bd · 3 ba |
| 1488 E 26th St | $1,150,000 | 3 bd · 2 ba |
| 1976 Ocean Ave Apt 5 | $1,200,000 | 3 bd · 2 ba |
| 1469 E 16th St | $1,200,000 | 4 bd · 3 ba |
| 1495 E 15th St | $1,250,000 | 4 bd · 3 ba |
| 2019 Avenue R | $1,299,000 | 3 bd · 3 ba |
| 2019 Avenue R | $1,299,000 | 3 bd · 2.5 ba |
| 1904 Avenue O | $1,560,000 | 5 bd · 3 ba |
| 3665 Bedford Ave | $1,650,000 | 4 bd · 3 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more