new - 2 days on rocket

1516 W 5th St, Brooklyn, NY, 11204

$1,580,000

Home List Price

$10,000*

Closing Credit

17 Bedrooms
10 Full Baths
6,560 SqFt
$241/SqFt
Multi

Location

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1516 W 5th St, Brooklyn$1,580,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOther, None
HeatingSteam, Other
CoolingOther
BasementYes
FireplaceOther
MLS #487512
StatusActive

About 1516 W 5th St

owner financing available -- 6.5% cap rate. A stunning 8-unit apartment building offering an exceptional opportunity for savvy investors or owner occupied . This well-maintained, semi-detached, four-story brick property boasts 6,560 sq. ft. of living space, featuring seven spacious 2-bedroom apartments, one charming 1-bedroom apartment, and a versatile 3-room storage facility. Fully occupied, this property generates an impressive $160,000 in annual rental income, making it a stable and high-performing asset. Located just minutes away from the "N" Subway line and the bustling Bay Parkway shopping district, this property offers unbeatable convenience and consistently high tenant demand. Recent upgrades include modernized electrical systems, two new hot water heaters, fully renovated kitchens and bathrooms, new flooring, updated toilets in every unit, and refreshed common areas, ensuring a low-maintenance and hassle-free investment. With its prime location, steady income, and significant upside potential, this property is a perfect choice for investors looking to expand their portfolio or those seeking a 1031 exchange. The flexibility of owner financing and a solid 6.5% cap rate make this a truly rare and compelling investment. Don’t let this opportunity pass you by. Contact us today to schedule your private showing and secure this exceptional property!

Property Details

Property Features

Property Information:

  • Stories: 4
  • Living Area: 6,560 SqFt

Listing Office:

  • Office Name: RE/MAX Edge

Interior Features

Interior Information:

  • Appliances: Other
  • Basement: Yes
  • Flooring Type: Other
  • Fireplace: Other

Bedroom and Bathroom Information:

  • Full Bathrooms: 10
  • Total Bedroom Count: 17

Exterior Features

Exterior Information:

  • Exterior: Other

Parking Information:

  • Parking: Other, None

Utilities

Utilities Information:

  • Heating: Steam, Other
  • Cooling: Other

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,580,000
  • Price Per SqFt: $241/SqFt

Tax Information:

  • Annual Amount: $26,450
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Brooklyn, NY.

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Brooklyn, NY

City

Med. Sold Price

$984.4K

Med. Price/SqFt

$696

Avg. Days On Market

97

# of Sold Homes

436

1516 W 5th St vs Brooklyn

2 DAYS ON ROCKET

-95 Days

$1,580,000

+$595.5K More

$241/SqFt

-$456 Less

KEY TAKEAWAY

This property is $595.5K more than the Median Sold Price and $456/SqFt less than other homes in Brooklyn, NY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #487512

Listing Office:

  • Office Name: RE/MAX Edge

IDX Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

The accuracy of all information, regardless of source, including but not limited to open house information, square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Brooklyn Multiple Listing Service and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright © 2024 Brooklyn Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 11/21/2024, 3:20:46 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Nov 16, 2012Home Sold
$1,074,000
Aug 09, 2006Home Sold
$962,000
Feb 15, 2000Home Sold
$275,000

Tax History

YEARPROP. TAXASSESSMENT
2020$26,450$517,500
2019$26,449$517,500
2018$22,410$190,286
2017$21,032$176,194

History based on county public records data.

Payment Calculator

$7,953

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,803

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-166175
6
/10

  • P.S. 177 Marlboro School

  • 346 Avenue P

  • 0.29 miles

  • Public District Grades KG-5

school-card-donut-166176
9
/10

  • Success Academy Charter School - Bensonhurst

  • 99 Avenue P Fl 4

  • 0.34 miles

  • Public Charter Grades KG-4

school-card-donut-166177
8
/10

  • P.S. 247 Brooklyn

  • 7000 21st Ave

  • 0.43 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $34,237. The most common annual income of people living in Brooklyn, NY is less than $35k. The most common type of family is single, no kids. Most residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New York›Kings County›Brooklyn›11204›1516 W 5th St

This home is located at 1516 W 5th St in Brooklyn, NY and zip code 11204 in the Bensonhurst neighborhood. Features: 17 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since November 18, 2024 and is currently priced at $1,580,000.

Brooklyn, NY housing market in October 2024 saw over 50 listings sold above listed price, more than 217 sold at listed price and over 169 sold below. The number of homes for sale in Brooklyn, NY increased by 0.1% between September 2024 and October 2024. In October 2024, listings were on the market for 97 days. During the same period, the median list price in this real estate market was $984,431.

From Rocket Homes Real Estate and based on county public records data.

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