397 5th Avenue Brooklyn, NY 11215
8 Beds
5 Baths
3,828 SqFt
UPDATED:
10/31/2024 11:44 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,828 sqft
Price per Sqft $1,404
Subdivision Park Slope
MLS Listing ID COMP-1651609433768137057
Bedrooms 8
Full Baths 4
Half Baths 2
HOA Y/N Yes
Year Built 1899
Annual Tax Amount $7,212
Property Description
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.
Location
State NY
County Kings
Interior
Interior Features Wet Bar, Built-in Features, Chandelier, High Ceilings, Recessed Lighting, Sound System, Bar
Heating Central, Forced Air, Natural Gas, Wall Furnace
Cooling Central Air, Wall Unit(s)
Furnishings Unfurnished
Fireplace No
Laundry See Remarks
Exterior
Exterior Feature Private Entrance
Private Pool No
Building
Dwelling Type Mixed Use
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $601
Pets Allowed Building No, Cats OK, Dogs OK
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