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  • $5,375,000

    397 5th Ave, Brooklyn, NY 11215

    8beds
    3,828sqft
    Multi Family
    Built in 1899
    -- sqft lot
    $-- Zestimate®
    $1,404/sqft
    $-- HOA

    What's special

    **Prime Park Slope Investment Opportunity: 397 5th Avenue, Brooklyn** Discover a meticulously maintained, three-story mixed-use building in the bustling retail corridor of 5th Avenue in Park Slope, Brooklyn. This property represents a rare investment opportunity in one of Brooklyn's most desirable neighborhoods. Situated on a high foot traffic section of 5th Avenue, the building enjoys maximum visibility and accessibility. It is currently fully occupied, featuring a diverse tenant mix. The residential component includes four well-appointed 2-bedroom rental units, each with desirable front and back layouts. The retail space is leased to the popular Flatiron Steakhouse - Park Slope, ensuring a steady stream of rental income. Based on projected rent rolls, this property easily yields a 5.8% cap rate, reflecting a strong return on investment, already demonstrating a robust and reliable rent roll. This makes it an attractive option for investors seeking both stability and growth. In excellent, turnkey condition, the building requires no immediate renovations or repairs, allowing for a seamless transition and continued revenue generation. This exceptional property combines a prime location, stable income, and well-maintained infrastructure, making it a valuable addition to any real estate portfolio. Don’t miss this opportunity to invest in a thriving area with a solid track record of demand and profitability.
    341 days
    on Zillow
    |
    283
    |
    10
    |

    Zillow last checked: 7 hours ago

    Listing updated: July 14, 2025 at 07:33pm

    Listing by:

    Compass 718-781-8310,

    Louis Esposito

    Source: StreetEasy,MLS#: S1731398
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 397 5th Ave.

    Next available tour time:Today at 6:30pm

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 6
    • Full bathrooms: 4
    • 1/2 bathrooms: 2
    Cooling
    • Central Air
    Appliances
    • Included: Dishwasher
    Features
    • Flooring: Hardwood
    Interior area
    • Total structure area: 3,828
    • Total interior livable area: 3,828 sqft

    Property

    Details
    • Parcel number: 009940003
    • Special conditions: Resale

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Condition
    • Year built: 1899

    Community & HOA

    Community
    • Subdivision: Park Slope
    Location
    • Region: Brooklyn

    Financial & listing details

    • Price per square foot: $1,404/sqft
    • Tax assessed value: $813,600
    • Annual tax amount: $7,212
    • Date on market: 8/26/2024
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