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4002 5th Ave 4 Unit Apartment Building $2,800,000 ($700,000/Unit) 4.96% Cap Rate Brooklyn, NY 11232
EXECUTIVE SUMMARY
The Brennan Team of Marcus & Millichap is pleased to exclusively present for sale 4002 5th Avenue, a three-story mixed-use building comprised of 4 large one-bedroom apartments and 2 commercial units. The property is located on the corner of 5th Avenue between 40th Street and 41st Street in
the Sunset Park neighborhood of Brooklyn.
The subject property was built in 1931 and measures 22 feet wide by 92 feet deep on the ground floor, and 22 feet wide by 67 feet on the 2nd and 3rd floors. The lot extends 95 feet deep and is zoned R6A, C2-4. The subject property is located 5 blocks from the 36 Street [ D, N, R] Train Station, providing easy access to Manhattan and the rest of Brooklyn.
4002 5th Avenue presents the unique opportunity to purchase a corner mixed-use building with a large vacant retail space, situated on the neighborhood’s premier retail corridor. All 4 free-market apartments offer future upside, with residential rental rates at approximately $35-$40/SF in this particular neighborhood.
the Sunset Park neighborhood of Brooklyn.
The subject property was built in 1931 and measures 22 feet wide by 92 feet deep on the ground floor, and 22 feet wide by 67 feet on the 2nd and 3rd floors. The lot extends 95 feet deep and is zoned R6A, C2-4. The subject property is located 5 blocks from the 36 Street [ D, N, R] Train Station, providing easy access to Manhattan and the rest of Brooklyn.
4002 5th Avenue presents the unique opportunity to purchase a corner mixed-use building with a large vacant retail space, situated on the neighborhood’s premier retail corridor. All 4 free-market apartments offer future upside, with residential rental rates at approximately $35-$40/SF in this particular neighborhood.
PROPERTY FACTS
| Price | $2,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $700,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 4.96% | Building Size | 4,972 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 - a medium-density residential zoning district | ||
| Price | $2,800,000 |
| Price Per Unit | $700,000 |
| Sale Type | Investment |
| Cap Rate | 4.96% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,972 SF |
| No. Stories | 3 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | R6 - a medium-density residential zoning district |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (96)
PROPERTY TAXES
| Parcel Number | 00714-0039 | Improvements Assessment | $325,800 |
| Land Assessment | $143,550 | Total Assessment | $469,350 |
PROPERTY TAXES
Parcel Number
00714-0039
Land Assessment
$143,550
Improvements Assessment
$325,800
Total Assessment
$469,350
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