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571 Ocean Pky 30 Unit Apartment Building $20,405,002 CAD ($680,167 CAD/Unit) 6.56% Cap Rate Brooklyn, NY 11218
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers & End-Users!!! Brand New 100% Occupied 30 Unit Mixed-Use Building In Kensington For Sale!!!
- The Property Is Located In The Heart Of Kensington In Between Church Ave. & Foster Ave. Only Minutes From Prospect Park Lake!!!
- The Building Was Built In 2023!!!
- The Building Features Excellent Signage, Great Exposure, (1) Medical Office, 18 Parking Spaces, High 10’ Ceilings, Strong R7A Zoning, Elevator, +++!!!
- Neighbors Include UPS, Kia, The Home Depot, Target, Costco, NYU Langone, ShopRite, T.J. Maxx, Walgreens, CVS, Extra Space Storage, Staples, +++!!!
- This Property Offers HUGE Upside Potential!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers & End-Users!!! Brand New 30 Unit Mixed-Use Building In Kensington For Sale!!! The Building Features Excellent Signage, Great Exposure, (1) Medical Office, 18 Parking Spaces, High 10’ Ceilings, Strong R7A Zoning, Elevator, Motion Sensor Lights, Sprinklers, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Kensington In Between Church Ave. & Foster Ave. Only Minutes From Prospect Park Lake!!! Neighbors Include UPS, Kia, The Home Depot, Target, Costco, NYU Langone, ShopRite, T.J. Maxx, Walgreens, CVS, Extra Space Storage, Staples, Planet Fitness, Blink Fitness, Taco Bell, McDonald’s, Meineke Car Care, Aldi +++!!! The Building Was Built In 2023!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!!
Income:
Healing Touch (Medical Office): $30,000 Ann.; Lease Exp.: 9/30/26.
Unit 1A: $42,240 Ann. (Available)
Unit 1B: $39,600 Ann.; Lease Exp.: 3/31/26.
Unit 2A: $30,162.24 Ann.; Lease Exp.: 8/31/26.
Unit 2B: $34,440 Ann.; Lease Exp.: 1/31/26.
Unit 2C: $34,918.68 Ann.; Lease Exp.: 6/30/26.
Unit 2D: $29,412 Ann.; Lease Exp.: 5/31/26.
Unit 3A: $36,536.88 Ann.; Lease Exp.: 10/31/25.
Unit 3B: $36,448.68 Ann.; Lease Exp.: 1/1/60.
Unit 3C: $29,412 Ann.; Lease Exp.: 4/30/26.
Unit 3D: $29,426.16 Ann.; Lease Exp.: 4/30/26.
Unit 4A: $29,355 Ann.; Lease Exp.: 3/31/26.
Unit 4B: $29,996.28 Ann.; Lease Exp.: 8/14/27.
Unit 4C: $34,200 Ann.; Lease Exp.: 7/14/26.
Unit 4D: $35,552.28 Ann.; Lease Exp.: 4/30/26.
Unit 5A: $36,547.68 Ann.; Lease Exp.: 4/30/26.
Unit 5B: $29,412 Ann. (Available)
Unit 5C: $28,500 Ann.; Lease Exp.: 5/31/26.
Unit 5D: $34,200 Ann.; Lease Exp.: 10/31/26.
Unit 6A: $30,220.80 Ann.; Lease Exp.: 5/31/26.
Unit 6B: $34,200 Ann.; Lease Exp.: 10/31/26.
Unit 6C: $34,200 Ann.; Lease Exp.: 4/15/26.
Unit 6D: $34,200 Ann.; Lease Exp.: 9/14/26.
Unit 7A: $34,200 Ann.; Lease Exp.: 3/31/26.
Unit 7B: $34,200 Ann.; Lease Exp.: 8/31/26.
Unit 7C: $37,833 Ann.; Lease Exp.: 6/14/26.
Unit 7D: $34,200 Ann.; Lease Exp.: 4/15/26.
Unit 8A: $36,396 Ann.; Lease Exp.: 4/30/26.
Unit 8B: $34,200 Ann.; Lease Exp.: 3/16/26.
Unit 8C: $36,396 Ann.; Lease Exp.: 6/30/26.
Unit 8D: $35,485.56 Ann.; Lease Exp.: 2/28/26.
Current Gross Rental Income: $974,439.24 Ann.
Pro Forma Gross Income: $1,046,091.24 Ann.
Additional Income: $2,653.47 Ann.
Expenses:
Utilities: $31,957.93 Ann.
Maintenance & Repairs: $8,348.16 Ann.
Management: $3,200 Ann.
Insurance: $4,502.50 Ann.
Taxes: $7,533 Ann.
Total Expenses: $55,541.59 Ann.
Current Net Operating Income (NOI): $921,551.12 Ann.
Pro Forma Net Operating Income (NOI): $993,203.12 Ann
Income:
Healing Touch (Medical Office): $30,000 Ann.; Lease Exp.: 9/30/26.
Unit 1A: $42,240 Ann. (Available)
Unit 1B: $39,600 Ann.; Lease Exp.: 3/31/26.
Unit 2A: $30,162.24 Ann.; Lease Exp.: 8/31/26.
Unit 2B: $34,440 Ann.; Lease Exp.: 1/31/26.
Unit 2C: $34,918.68 Ann.; Lease Exp.: 6/30/26.
Unit 2D: $29,412 Ann.; Lease Exp.: 5/31/26.
Unit 3A: $36,536.88 Ann.; Lease Exp.: 10/31/25.
Unit 3B: $36,448.68 Ann.; Lease Exp.: 1/1/60.
Unit 3C: $29,412 Ann.; Lease Exp.: 4/30/26.
Unit 3D: $29,426.16 Ann.; Lease Exp.: 4/30/26.
Unit 4A: $29,355 Ann.; Lease Exp.: 3/31/26.
Unit 4B: $29,996.28 Ann.; Lease Exp.: 8/14/27.
Unit 4C: $34,200 Ann.; Lease Exp.: 7/14/26.
Unit 4D: $35,552.28 Ann.; Lease Exp.: 4/30/26.
Unit 5A: $36,547.68 Ann.; Lease Exp.: 4/30/26.
Unit 5B: $29,412 Ann. (Available)
Unit 5C: $28,500 Ann.; Lease Exp.: 5/31/26.
Unit 5D: $34,200 Ann.; Lease Exp.: 10/31/26.
Unit 6A: $30,220.80 Ann.; Lease Exp.: 5/31/26.
Unit 6B: $34,200 Ann.; Lease Exp.: 10/31/26.
Unit 6C: $34,200 Ann.; Lease Exp.: 4/15/26.
Unit 6D: $34,200 Ann.; Lease Exp.: 9/14/26.
Unit 7A: $34,200 Ann.; Lease Exp.: 3/31/26.
Unit 7B: $34,200 Ann.; Lease Exp.: 8/31/26.
Unit 7C: $37,833 Ann.; Lease Exp.: 6/14/26.
Unit 7D: $34,200 Ann.; Lease Exp.: 4/15/26.
Unit 8A: $36,396 Ann.; Lease Exp.: 4/30/26.
Unit 8B: $34,200 Ann.; Lease Exp.: 3/16/26.
Unit 8C: $36,396 Ann.; Lease Exp.: 6/30/26.
Unit 8D: $35,485.56 Ann.; Lease Exp.: 2/28/26.
Current Gross Rental Income: $974,439.24 Ann.
Pro Forma Gross Income: $1,046,091.24 Ann.
Additional Income: $2,653.47 Ann.
Expenses:
Utilities: $31,957.93 Ann.
Maintenance & Repairs: $8,348.16 Ann.
Management: $3,200 Ann.
Insurance: $4,502.50 Ann.
Taxes: $7,533 Ann.
Total Expenses: $55,541.59 Ann.
Current Net Operating Income (NOI): $921,551.12 Ann.
Pro Forma Net Operating Income (NOI): $993,203.12 Ann
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,407,487
|
$57.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,407,487
|
$57.38
|
| Taxes |
$10,421
|
$0.42
|
| Operating Expenses |
$58,364
|
$2.38
|
| Total Expenses |
$68,785
|
$2.80
|
| Net Operating Income |
$1,338,702
|
$54.58
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,407,487 |
| Annual Per SF | $57.38 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,407,487 |
| Annual Per SF | $57.38 |
| Taxes (CAD) | |
|---|---|
| Annual | $10,421 |
| Annual Per SF | $0.42 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $58,364 |
| Annual Per SF | $2.38 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $68,785 |
| Annual Per SF | $2.80 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,338,702 |
| Annual Per SF | $54.58 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Fitness Center
- Laundry Facilities
- Security System
- Wheelchair Accessible
- Storage Space
- Bicycle Storage
- Elevator
- Pet Washing Station
- Sundeck
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | - | 625 - 780 |
Walk Score®
Very Walkable (83)
Transit Score®
Rider's Paradise (95)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 05400-0072 | Total Assessment | $2,701,783 CAD (2025) |
| Land Assessment | $334,423 CAD (2025) | Annual Taxes | $10,421 CAD ($0.42 CAD/SF) |
| Improvements Assessment | $2,367,360 CAD (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
05400-0072
Land Assessment
$334,423 CAD (2025)
Improvements Assessment
$2,367,360 CAD (2025)
Total Assessment
$2,701,783 CAD (2025)
Annual Taxes
$10,421 CAD ($0.42 CAD/SF)
Tax Year
2023
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571 Ocean Pky
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