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397 5th Avenue
Park Slope, New York
$5,375,000 Price
8 Bedrooms   4.2 Baths
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397 5th Avenue, Park Slope, New York

**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...

**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.

Courtesy of Compass

Floorplan for 397 5th Avenue

Floorplan for 397 5th Avenue

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Park Slope, New York
Type:
Price: $5,375,000
Web ID: 1081844460

Info & Amenities

Rooms: 16.0
Bedrooms: 8
Full Bathrooms: 4
Half Bathrooms: 2.0
Built: 1899

Get to Know Park Slope

Park Slope is a community-minded neighborhood bordered by Prospect Park, Prospect Heights, Windsor Terrace, and Gowanus. Its name is derived from the gentle incline of its streets, which end at the historic and celebrated park. An iconic example of “Brownstone Brooklyn,” Park Slope is famous for its picturesque blocks and residential feel. Park Slope residents enjoy convenient access to several major cultural institutions, as well as the Olmsted and Vaux-designed, 526-acre Prospect Park. Meanwhile, the homes of Park Slope represent a diverse array of architectural periods and styles. You can find historic brownstones, single-family limestones, pre-war co-ops, and modern condo buildings with luxury amenities.

More About Park Slope

Neighborhood Guide to Park Slope

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.

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