Active
397 5th Avenue
Brooklyn NY, 11215
$5,375,000
$1,404.13 per sqft
Active
8 Beds
5 Baths
3,828 sqft
Multi-family
Built in 1899
**Prime Park Slope Investment Opportunity: 397 5th Avenue, Brooklyn**
Discover a meticulously maintained, three-story mixed-use building in the bustling retail corridor of 5th Avenue in Park Slope, Brooklyn. This property represents a rare investment opportunity in one of Brooklyn's most desirable neighborhoods.
Situated on a high foot traffic section of 5th Avenue, the building enjoys maximum visibility and accessibility. It is currently fully occupied, featuring a diverse tenant mix. The residential component includes four well-appointed 2-bedroom rental units, each with desirable front and back layouts. The retail space is leased to the popular Flatiron Steakhouse - Park Slope, ensuring a steady stream of rental income.
Based on actual and projected rent rolls, this property easily yields a 5.2% cap rate, reflecting a strong return on investment, already demonstrating a robust and reliable rent roll. This makes it an attractive option for investors seeking both stability and growth.
In excellent, turnkey condition, the building requires no immediate renovations or repairs, allowing for a seamless transition and continued revenue generation. This exceptional property combines a prime location, stable income, and well-maintained infrastructure, making it a valuable addition to any real estate portfolio. Don't miss this opportunity to invest in a thriving area with a solid track record of demand and profitability.
COMP-1651609433768137057
MLSⓇ ID
August 26, 2024
Listed
November 4, 2024
Updated
Map
397 5th Avenue
Brooklyn NY, 11215
Interior Features
Total Stories
3
Bedrooms
8
Total Bathrooms
5
Full Bathrooms
4
Half Bathrooms
2
Interior Features
Wet Bar, Built-in Features, Chandelier, High Ceilings, Recessed Lighting, Sound System, Bar
Laundry Description
See Remarks
Fireplace
No
Cooling
Yes
Cooling Description
Central Air, Wall Unit(s)
Heating
Yes
Heating Description
Central, Forced Air, Natural Gas, Wall Furnace
Exterior/Building Features
Exterior Features
Private Entrance
Other Property Details
Taxes
$7,212
Tax Frequency
Annually
HOA Frequency
Monthly
Garage
No
View
No
County
Kings
Pool
No
Listing History
Date | Event | Price |
---|---|---|
10/4/2024 | Price change | $5,375,000 -12% |
Listed by Louis Esposito with Compass
Listing Contact: (718) 781-8310
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved
Data last updated on 11/4/2024 at 4:24 PM UTC