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

December 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 

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing 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. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

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 12/4/2024 at 5:06 PM UTC

 

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