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121 8th Ave 10 Unit Apartment Building $5,750,000 ($575,000/Unit) Brooklyn, NY 11215
INVESTMENT HIGHLIGHTS
- 89% Fair Market
- Recently renovated free-market units featuring high ceilings, modern finishes, hardwood floors, and stainless-steel appliances
- Expansive parking lot and vacant lower level medical office with multiple repositioning strategies
- Corner of 8th Avenue and Carroll Street, adjacent to Prospect Park
- Proximity to the B/Q/2/3 Trains
- The property offers Tax Class 2B designation, limiting assessment increases to 8% annually or 30% over five years
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale 121 8th Avenue (the “Property”), a 4-story mixed-use walk-up building featuring 91’ of wraparound frontage on the southeast corner of 8th Avenue and Carroll Street in Park Slope. The Property sits on a 3,440 square foot lot, spans approximately 8,076 ± square feet, and consists of nine (9) residential units above one (1) ground floor medical office. The medical office is currently vacant and offers multiple repositioning strategies.The residential units include eight (8) free-market and one (1) rent-stabilized unit. The residential units are comprised of five (5) one-bedroom / one-bathroom apartments, two (2) studio apartments, one (1) two-bedroom / two-bathroom apartment, and one (1) one-bedroom / one-bathroom apartment with a private terrace.
PROPERTY FACTS
| Price | $5,750,000 | Apartment Style | Garden |
| Price Per Unit | $575,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| No. Units | 10 | Building Size | 8,076 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1920 |
| Zoning | R7B/16C - Medium-density apartment house district with lower parking requirements | ||
| Price | $5,750,000 |
| Price Per Unit | $575,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 8,076 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Zoning | R7B/16C - Medium-density apartment house district with lower parking requirements |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 1,450 |
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 01072-0006 | Improvements Assessment | $1,683,000 |
| Land Assessment | $20,700 | Total Assessment | $1,703,700 |
PROPERTY TAXES
Parcel Number
01072-0006
Land Assessment
$20,700
Improvements Assessment
$1,683,000
Total Assessment
$1,703,700
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