7401 5Th Ave Brooklyn, NY 11209

Property Details for 7401 5Th Ave

Year built

1936

Lot size

0.05 lot acres

Property size

6,660 SF

Zone code

R6B

Property type

Investment properties

Property subtype

Live-work space

APN

05931-0013

APU

59310013

Description

This exceptional six-unit apartment building presents a compelling investment opportunity in the desirable Bayridge neighborhood of Brooklyn, New York. Located at 7401 5th Avenue, this four-story building boasts 6,660 square feet on a 2,182 square foot lot. The property features six units, five of which are stabilized apartments, all featuring renovated box rooms with abundant natural light. The building is in excellent condition and offers a strong stabilized NOI of $133,816, resulting in an attractive 4.12% cap rate. The asking price is $3,250,000. Five additional small retail spaces are currently rented on a month-to-month basis, with rents below market value, presenting significant upside potential for increased income. The building's prime location on 5th Avenue at the corner of 74th Street offers easy access to public transportation, shopping, and various services. The larger two-bedroom apartments are a key feature, appealing to a wide range of tenants. This is a rare opportunity to acquire a well-maintained multifamily property in a highly sought-after Brooklyn location with immediate income and significant long-term growth potential.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-74.0221

Latitude

40.6301

CBSA code

35620

CBSA name

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

Property Tax & Assessments