Price Reduced 11.89%

$5,375,000 ($1,404.13 per sqft)

Est. Mortgage $26,826/mo *

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Listing courtesy of Compass Phone: (212) 913-9058

Price History

$6,100,000
8/12/2024

$5,375,000
10/5/2024

397 5th Avenue, Brooklyn, (Park Slope), NY, 11215

397 5th Avenue, Brooklyn, (Park Slope), NY, 11215
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16 rooms

8 beds

4 Full / 2 Half baths

1899

3,828 sqft

**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.

Status:

Active

Town:

Brooklyn

Type:

Condo/Coop

Furnished Remarks:

Unfurnished

Laundry Remarks:

See Remarks

Units:

2

Heating:

Central, Forced Air, Natural Gas, Wall Furnace

Cooling:

Central Air, Wall Unit(s)

Levels:

3

Lot Size:

20.420000x70.000000

Est. Taxes:

$7,212

Pet Policy:

Building No, Cats OK, Dogs OK

MLS #:

COMP-165160943376813

Community Info

School Info

Walk Score

Mass Transit

Yelp

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