397 5th Avenue

Property Description

**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.

Overview

Property Status

For Sale

MLS ID

RLS11003754

Property Type

Multi-Family

Year Built

1899

Are you interested?

Schedule a Tour

or Contact

RoseAnne Degliuomini

(718) 710-1844 [email protected]

Louis Esposito

(718) 781-8310 [email protected]

Features & Amenities

Stories

Heat Type

Central, Forced Air, Natural Gas, Wall Furnace

Air Conditioning

Central Air, Wall Unit(s)

Other Exterior Features

Private Entrance, Private Outdoor Space Under 60 Sqft

Sales Price

$5,375,000

Real Estate Tax

$7,212/yr

Are you interested?

Schedule a Tour

or Contact

RoseAnne Degliuomini

(718) 710-1844 [email protected]

Louis Esposito

(718) 781-8310 [email protected]

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