**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.
Property Details
Property Features
Property Information:
Year Built: 1899
Living Area: 3,828 SqFt
Listing Office:
Office Name: Compass
Office Phone: (212) 913-9058
Listing Agent: Louis Esposito
Agent Phone: (718) 781-8310
Interior Features
Interior Information:
Interior: Wet Bar, Built-in Features, Chandelier, High Ceilings, Recessed Lighting, Sound System, Bar
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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: 1/2/2025, 11:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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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.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
8
/10
The Maurice Sendak Community School
211 8th St
Distance between this listing and this school0.15 miles
Public District Grades PK-4
9
/10
P.S. 39 Henry Bristow School
417 6th Ave
Distance between this listing and this school0.16 miles
Public District Grades KG-5
3
/10
P.S. 124 Silas B. Dutcher School
515 4th Ave
Distance between this listing and this school0.36 miles
Public District Grades KG-5
Nearby Schools
6
/10
Middle School 51 William Alexander
350 5th Ave
Distance between this listing and this school0.12 miles
Public District Grades 6-8
5
/10
P.S. 282 Park Slope School
180 6th Ave
Distance between this listing and this school0.57 miles
Public District Grades PK-8
9
/10
Hellenic Classical Charter School
646 5th Ave
Distance between this listing and this school0.64 miles
Public Charter Grades PK-8
Nearby Schools
3
/10
John Jay School for Law
237 7th Ave
Distance between this listing and this school0.32 miles
Public District Grades 9-12
8
/10
Millennium Brooklyn High School
237 7th Ave
Distance between this listing and this school0.32 miles
Public District Grades 9-12
2
/10
Cyberarts Studio Academy
237 7th Ave
Distance between this listing and this school0.32 miles
The neighbors living near this home have an average income of $81,542. The most common annual income of people living in New York, NY is between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.
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This home is located at 397 5th Ave in New York City, NY and zip code 11215 in the South Brooklyn neighborhood. This 3,828 square foot home was built in 1899. Features: 8 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since September 09, 2024 and is currently priced at $5,375,000.
In December 2024 more than 215 listings in New York, NY were sold above the asking price. During the same period more than 870 listings were sold at asking price, while more than 736 were sold below. In December 2024 in New York, NY there were 8.6% less homes for sale than in November 2024. Listings spent 72 days on the market in December 2024, and had a median list price of $853,573 during the same period.
From Rocket Homes Real Estate and based on county public records data.
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