**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.
Active
$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
- 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
Tour with a buyer's agent
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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