MultiFamily Property at 192 Rockaway Avenue in Brooklyn
FOR SALE
$2,300,000
192 Rockaway Avenue, Brooklyn, NY 11233
7.29%
CAP
Property Description
NOI
$167,759
Cap Rate
7.29%
Matheos Realty Group has been exclusively retained to represent ownership in the sale of a mostly renovated, partially rent
stabilized, 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-lined
residential 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, Units
3A and 3B are legally rent-stabilized but have been fully renovated and are currently achieving market rents, offering
meaningful upside and operational flexibility.
Ideally positioned near the A and C subway lines, just a short walk away the property provides efficient access to Manhattan
and greater Brooklyn. Located in the rapidly evolving Ocean Hill neighborhood, the asset benefits from strong rental
demand, improving neighborhood fundamentals, and long-term appreciation potential.
Property Highlights
• 8-Unit Multifamily | ~5,400 SF
• 3 Free-Market Units / 5 Rent-Stabilized Units
• 2 rent-stabilized units currently paying market rent
• 5 of 8 Units are renovated
• Tax Class 2B – protected tax class with capped assessment increases
• Transit-Oriented Location near A & C subway lines
Property Details
Asset Type
MultiFamily
Year Built
1920
Lot Size
2,131 SF
Neighborhood
Ocean Hill
Submarket
Brooklyn
ZIP
11233
Renovated
2023
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$266,150
Debt Service Coverage Ratio (DSCR)
2.03x
Cap Rate
11.57%
Cash Flow (Annual)
$135,312
Cash-on-Cash Return
23.53%
Monthly Debt Service
$10,903
Annual Debt Service
$130,838
View on Map
Address
192 Rockaway Avenue
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
