84-Unit Elevator Multifamily Property in Flatbush
555 Ocean Avenue
Flatbush
B12, B16, B35, B49
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 555 Ocean Avenue, a multifamily building located in the Flatbush neighborhood of Central Brooklyn.
This ~103,500 SF elevator building sits on a 129 ft x 210 ft lot between Church Avenue and Albemarle Road.The 6-story property consists of 84 total units, ranging from studios to three bedrooms and has an in-place gross income of approximately $1,630,662.
The building has 10 vacant units, 6 of which are adjoining another vacant unit, representing a rare opportunity to reconfigure and potentially combine adjacent units, significantly increasing the rents. At asking price, the property is offered at $242/SF.
Attractions
Conveniently located in the heart of Brooklyn, the property is surrounded by nearby transportation and is in close proximity to the Church Avenue subway station, serviced by the B and Q trains, amongst other train and bus lines, providing a smooth commute to and from Flatbush.
A few local gems include Prospect Park, Kings Theatre, Jiku, Bar Chord, Brooklyn Center for Performing Arts, and the street art of Juan Carlos Pinto, a wonderful addition to this lively community.
