5405 5Th Ave Brooklyn, NY 11220

Property Details for 5405 5Th Ave

Year built

1931

Lot size

0.04 lot acres

Property size

3,240 SF

Zone code

C43A

Property type

Investment properties

Property subtype

Live-work space

APN

00824-0009

APU

8240009

Description

This exceptional mixed-use property, located at 5405 5th Ave in Brooklyn, NY 11220, presents a lucrative investment opportunity. The newly rebuilt, gut-renovated building boasts a prime location on a busy, high-traffic area near the 8th and 4th Avenue shopping corridors and various transportation options. The property features three spacious residential units, each comprising four bedrooms, two full bathrooms, and two balconies, averaging 1,822 square feet with high ceilings. Each unit includes ample closet space and updated kitchens and bathrooms. Currently, the units are on month-to-month leases. In addition to the residential units, the property includes a 1,080-square-foot storefront with a full finished basement, offering high ceilings and a separate bathroom entrance. The basement also houses the building's boiler. The storefront, currently occupied by a discount store on a month-to-month basis paying $5,000 NNN, offers significant upside potential. The building sits on a 20 x 80 lot, with the building itself measuring 20 x 55. The property is zoned R6 S2. With a projected annual income of $366,000 and a projected cap rate of 7%, this mixed-use property offers substantial returns and significant upside potential. The building is a legal three-family dwelling with a legal storefront and basement storefront/office/storage space. This is a rare opportunity to acquire a high-performing asset in a rapidly developing area of Brooklyn.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-74.0126

Latitude

40.6426

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments