5405 5Th AveBrooklyn, NY 11220

For Sale
$3,100,000

Prime Brooklyn location, high-income potential.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property, located at 5405 5th Ave in Brooklyn, NY 11220, presents a lucrative investment opportunity. The newly rebuilt, gut-renovated building boasts a prime location on a busy, high-traffic area near the 8th and 4th Avenue shopping corridors and various transportation options. The property features three spacious residential units, each comprising four bedrooms, two full bathrooms, and two balconies, averaging 1,822 square feet with high ceilings. Each unit includes ample closet space and updated kitchens and bathrooms. Currently, the units are on month-to-month leases. In addition to the residential units, the property includes a 1,080-square-foot storefront with a full finished basement, offering high ceilings and a separate bathroom entrance. The basement also houses the building's boiler. The storefront, currently occupied by a discount store on a month-to-month basis paying $5,000 NNN, offers significant upside potential. The building sits on a 20 x 80 lot, with the building itself measuring 20 x 55. The property is zoned R6 S2. With a projected annual income of $366,000 and a projected cap rate of 7%, this mixed-use property offers substantial returns and significant upside potential. The building is a legal three-family dwelling with a legal storefront and basement storefront/office/storage space. This is a rare opportunity to acquire a high-performing asset in a rapidly developing area of Brooklyn.

Highlights

  • Prime Sunset Park location at 6th Avenue and 54th Street, high-traffic area.
  • Legally-compliant three-family building with two storefronts (one ground floor, one basement), completely gut-renovated.
  • Three 4-bedroom, 2-bathroom residential units, each approx. 1,822 sq ft with high ceilings, balconies, and ample closet space.
  • 1,080 sq ft ground floor storefront (currently a 99-cent store on a month-to-month, $5,000 NNN lease) and a finished basement storefront/office/storage with separate entrance and bathroom.
  • Building: 20' x 55', lot: 20' x 80', R6 S2 zoning.
  • Projected annual income: $366,000, projected cap rate: 7%, significant upside potential.

Property Details for 5405 5Th Ave

Property type
Other mixed-use properties, Mixed-use properties
Units
5

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.642649
Longitude
-74.012676
5405 5Th Ave, Brooklyn, New York

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5405 5Th Ave
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