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Listing Courtesy of PEN REALTY LLC
$ 5,199,999
Est. payment /mo
New
123 8th Avenue Brooklyn, NY 11215
6,666 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,666 sqft
Price per Sqft $780
Subdivision Park Slope
MLS Listing ID RLS20041506
Style Prewar,Walk-Up
HOA Y/N No
Year Built 1885
Annual Tax Amount $60,577
Property Sub-Type Multi Family
Property Description
Located just steps from Prospect Park in prime Park Slope, 123 8th Avenue is a beautifully maintained 9-unit multifamily building offering strong in-place income and long-term upside. The property includes six free market and three rent-stabilized units, featuring a mix of one- and two-bedroom layouts ranging from approx. 550 to 1,000 sq ft. All apartments have been recently renovated and are in excellent condition. Current gross monthly income is $33,350, or over $400K annually. With reported annual expenses adjusted for recent capital improvements, the projected NOI exceeds 500k, resulting in a higher cap rate. This turnkey asset is ideal for investors seeking stable returns in a high-demand Brooklyn neighborhood, near Prospect Park, top schools, shopping, dining, and transportation.
Location
State NY
County Kings
Interior
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
Private Pool No
Building
Dwelling Type Multi Family
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $5, 048
Pets Allowed Building Yes, Yes
RLS Data display by Elegran