2057 Ocean Avenue
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 42% of the 24 homes listed nearby right now, which run $665,000 to $1,695,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 2183 Ocean Avenue 2D | $665,000 | 2 bd · 2 ba |
| 1408 Avenue O 2A | $667,000 | 2 bd · 2 ba |
| 1811 Avenue P 6A | $675,000 | 2 bd · 2 ba |
| 2183 Ocean Avenue 3D | $675,000 | 2 bd · 2 ba |
| 2183 Ocean Avenue 5D | $685,000 | 2 bd · 2 ba |
| 2218 Ocean Avenue 5A | $722,000 | 2 bd · 2 ba |
| 2183 Ocean Avenue 4E | $735,000 | 2 bd · 2 ba |
| 2025 Ocean Avenue 4/A | $750,000 | 2 bd · 2 ba |
| 1689 East 21st Street 5 | $879,000 | 3 bd · 2 ba |
| 2222 Ocean Avenue PHB | $975,000 | 2 bd · 2 ba |
| 1512 East 22nd Street | $999,000 | 4 bd · 3 ba |
| 1755 East 15th Street | $1,100,000 | 3 bd · 2.5 ba |
| 1613 East 15th Street 1 | $1,150,000 | 4 bd · 2.5 ba |
| 1609 Avenue P | $1,199,000 | 3 bd · 2 ba |
| 1469 East 16th Street | $1,200,000 | 4 bd · 3 ba |
| 1495 East 15th Street 2 - FAMILY | $1,250,000 | 4 bd · 3 ba |
| 1844 East 19th Street | $1,250,000 | 3 bd · 2.5 ba |
| 2019 Avenue R | $1,299,000 | 3 bd · 2.5 ba |
| 1514 East 28th Street HOUSE | $1,399,000 | 3 bd · 2.5 ba |
| 1904 Avenue O | $1,560,000 | 5 bd · 2.5 ba |
| 2218 Avenue P | $1,599,000 | 4 bd · 3 ba |
| 3665 Bedford Avenue | $1,650,000 | 4 bd · 3 ba |
| 1914 Avenue N | $1,675,000 | 7 bd · 5 ba |
| 2101 Avenue N | $1,695,000 | 4 bd · 2.5 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more
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