Brooklyn, NY 11204,1516 West 5th ST
Brooklyn, NY 11204,1516 West 5th ST
Brooklyn, NY 11204,1516 West 5th ST
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$1,580,000
Est. payment /mo
17 Beds
10 Baths
6,560 SqFt

UPDATED:

12/17/2024 12:34 PM

Key Details

Property Type Multi Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,560 sqft

Price per Sqft $240

MLS Listing ID 487512

Bedrooms 17

Full Baths 10

Annual Tax Amount $33,397

Property Description

owner financing available -- 6.5% cap rate.
A stunning 8-unit apartment building offering an exceptional opportunity for savvy investors or owner occupied . This well-maintained, semi-detached, four-story brick property boasts 6,560 sq. ft. of living space, featuring seven spacious 2-bedroom apartments, one charming 1-bedroom apartment, and a versatile 3-room storage facility. Fully occupied, this property generates an impressive $160,000 in annual rental income, making it a stable and high-performing asset.

Located just minutes away from the "N" Subway line and the bustling Bay Parkway shopping district, this property offers unbeatable convenience and consistently high tenant demand. Recent upgrades include modernized electrical systems, two new hot water heaters, fully renovated kitchens and bathrooms, new flooring, updated toilets in every unit, and refreshed common areas, ensuring a low-maintenance and hassle-free investment.

With its prime location, steady income, and significant upside potential, this property is a perfect choice for investors looking to expand their portfolio or those seeking a 1031 exchange. The flexibility of owner financing and a solid 6.5% cap rate make this a truly rare and compelling investment.

Don't let this opportunity pass you by. Contact us today to schedule your private showing and secure this exceptional property!

Location

State NY

County Kings (brooklyn)

Area Bensonhurst

Rooms

Basement Full, Semi-Finished, Separate Entrance, Walk-in

Interior

Hot Water Other

Heating Other

Flooring Other

Heat Source Other

Exterior

Exterior Feature Brick, Other

Amenities Available Storage rooms

Roof Type Other

Handicap Access Unknown

Building

Story 4

Foundation Other

Others

Energy Description Other

Financing 1031 Exchange,Bank Mortgage,Cash


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Listed by RE/MAX Edge

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Randy Reis

+1(917) 336-1118

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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