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341 5th Ave 8 Unit Apartment Building $4,000,000 ($500,000/Unit) 5.89% Cap Rate Brooklyn, NY 11215
INVESTMENT HIGHLIGHTS
- Exterior Building Repairs in 2024
- Fire Escape Refurbishment 2025
- Roof Repairs in 2024
- New Apartment Appliances
EXECUTIVE SUMMARY
Investment Property Realty Group (IPRG) is pleased to present an exclusive opportunity to acquire 341 5th Avenue, a prime mixed use asset located between 4th Street and 5th Street in the heart of Park Slope, Brooklyn.
This well-maintained property features 6 residential units (with 3 free-market apartments and 3 rent-stabilized) and 2 retail storefronts, offering approximately 6,670 square feet of total space. Recently enhanced with capital improvements—including extensive exterior waterproofing, parapet repairs and Thorocoat application, a new APP rubber roof membrane, fire escape refurbishment, new appliances in select units, modern hot water tanks, and furnace repairs—the building is in excellent condition and
positioned for future upside with in place stable cash flow.
Its strategic location provides excellent access to public transportation, including proximity to the F, G, and R subway lines, enhancing its appeal as a reliable investment in one of Brooklyn’s most desirable and dynamic neighborhoods. This is an exceptional opportunity for investors seeking long-term value in a well-established market.
This well-maintained property features 6 residential units (with 3 free-market apartments and 3 rent-stabilized) and 2 retail storefronts, offering approximately 6,670 square feet of total space. Recently enhanced with capital improvements—including extensive exterior waterproofing, parapet repairs and Thorocoat application, a new APP rubber roof membrane, fire escape refurbishment, new appliances in select units, modern hot water tanks, and furnace repairs—the building is in excellent condition and
positioned for future upside with in place stable cash flow.
Its strategic location provides excellent access to public transportation, including proximity to the F, G, and R subway lines, enhancing its appeal as a reliable investment in one of Brooklyn’s most desirable and dynamic neighborhoods. This is an exceptional opportunity for investors seeking long-term value in a well-established market.
PROPERTY FACTS
| Price | $4,000,000 | Property Subtype | Apartment |
| Price Per Unit | $500,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.89% | Lot Size | 0.05 AC |
| Gross Rent Multiplier | 13.63 | Building Size | 6,760 SF |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1920 |
| Zoning | R6A | ||
| Price | $4,000,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 5.89% |
| Gross Rent Multiplier | 13.63 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 6,760 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Zoning | R6A |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 00985-0007 | Improvements Assessment | $1,456,650 |
| Land Assessment | $21,600 | Total Assessment | $1,478,250 |
PROPERTY TAXES
Parcel Number
00985-0007
Land Assessment
$21,600
Improvements Assessment
$1,456,650
Total Assessment
$1,478,250
CONTACTS
-
Toby Waring -
Derek Bestreich -
Luke Sproviero -
Adam Lobel -
Samantha Katz -
Investment Property Realty Group
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341 5th Ave
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