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474 5th Ave 3 Unit Apartment Building $4,250,000 ($1,416,667/Unit) 7.10% Cap Rate Brooklyn, NY 11215
Investment Highlights
- 100% Free Market
- Finished Product - beautiful building
- 7.1% Cap Rate in Place
- Great location
Executive Summary
474 5th Avenue is a 3-unit mixed-use building located along Park Slope’s 5th Avenue retail corridor between 10th and 11th Street. Listed at $4,250,000, and it’s as clean as they come. The property was completely gut-renovated down to the studs - new systems, structure, and finishes throughout. This is not a light cosmetic update — it’s a full rebuild that shows the moment you walk through it.
There is nothing to do here but sit back, relax, and collect rent from day 1. The rent roll is producing approximately $302,000 in net income, making it a true cash-flowing asset right out of the gates. There’s no deferred maintenance, no arrears, and all tenants pay on time. Both apartments have incredible outdoor space and feel extra spacious due to the 21.5’ width
Located on one of the strongest retail and residential corridors in Park Slope, 5th Avenue continues to benefit from consistent foot traffic, neighborhood density, and long-term demand. Well located within steps of multiple subway lines. For buyers looking for a finished product with serious income in a proven location, 474 5th Avenue is a great deal
There is nothing to do here but sit back, relax, and collect rent from day 1. The rent roll is producing approximately $302,000 in net income, making it a true cash-flowing asset right out of the gates. There’s no deferred maintenance, no arrears, and all tenants pay on time. Both apartments have incredible outdoor space and feel extra spacious due to the 21.5’ width
Located on one of the strongest retail and residential corridors in Park Slope, 5th Avenue continues to benefit from consistent foot traffic, neighborhood density, and long-term demand. Well located within steps of multiple subway lines. For buyers looking for a finished product with serious income in a proven location, 474 5th Avenue is a great deal
Property Facts Under Contract
| Price | $4,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,416,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 7.10% | Building Size | 3,474 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1921 |
| Property Subtype | Apartment | ||
| Zoning | C4-3A - Regional Commercial Center | ||
| Price | $4,250,000 |
| Price Per Unit | $1,416,667 |
| Sale Type | Investment |
| Cap Rate | 7.10% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,474 SF |
| No. Stories | 3 |
| Year Built | 1921 |
| Zoning | C4-3A - Regional Commercial Center |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01016-0042 | Improvements Assessment | $228,600 |
| Land Assessment | $73,350 | Total Assessment | $301,950 |
Property Taxes
Parcel Number
01016-0042
Land Assessment
$73,350
Improvements Assessment
$228,600
Total Assessment
$301,950
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