5501 5Th AveBrooklyn, NY 11220

For Sale
$3,250,000

8-Unit Multifamily, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a well-maintained, 8-unit apartment building situated at 5501 5th Avenue in Brooklyn's desirable Sunset Park neighborhood. The property boasts a total of 6,453 square feet on a 0.038-acre lot (APN 832-8), offering a compelling mix of immediate cash flow and significant upside potential. Currently operating at 100% occupancy, the building generates a strong net operating income (NOI) of $190,917, resulting in an attractive 5.87% cap rate. Built in 1931, this four-story building is zoned C4-3A and features a fee simple ownership structure. Two units benefit from preferential rents below market value, presenting a clear path to increase profitability. The asking price is $3,250,000, translating to $503.64 per square foot. This stabilized multifamily investment offers a rare combination of immediate return and long-term growth potential in a thriving Brooklyn community. The property's strong rental history and prime location make it an ideal acquisition for savvy investors seeking a stable and appreciating asset. The building's solid construction and excellent location within Sunset Park ensure a consistent stream of rental income and potential for future appreciation. This is a turnkey investment ready for immediate ownership.

Highlights

  • 6,453 square foot building
  • 1,644 square foot lot (0.038 acres)
  • 1931 construction
  • Block 832, Lot 8
  • Fee simple ownership
  • $3,250,000 offering price

Property Details for 5501 5Th Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
6,453 SF
Year Built
1931
Buildings
1
Stories
4
Lot Size (sq. ft)
1,655 SF
Units
8

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6420789
Longitude
-74.0131677
5501 5Th Ave, Brooklyn, New York

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5501 5Th Ave
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