1647 8th Ave 6 Unit Apartment Building $4,995,000 ($832,500/Unit) 4.72% Cap Rate Brooklyn, NY 11215

Free Market 6 Family in Prime Park Slope!
Located in the coveted neighborhood of Park Slope just around the corner from Prospect Park, 1647 8th Ave represents an investor with the opportunity to acquire a cash flowing hassle free investment property with 100% rent collectinos and plenty of future upside. The current rent roll is below market rents with COVID pricing on many of the units, this adds a value add component for increasing rents significantly as the leases expire. Rents in the area have seen an increase of more then 30% from a year ago, and we have just leased out unit #2B at a 37% increase from a year ago. The building is also in a proected class tax ensuring that the taxes increases will be limited.
Located in Prime Park Slope Location around the corner from Prospect Park, the F/G subway lines, and a block from 7th Ave the commercial corridor which Park Slope is famous for.
The building benefits from a shared yard, a tenants lounge, storage cages, and laundry all
accessable from the common basement of the building.
Configured as 5 two bedroom units and one 1 bedroom unit all featuring their own hot water tanks and split unit HVAC systems minimizing the owners expenses.
*Please confrim with all applicable professionals as Real Street Inc makes no representation beyond what owners have relayed.