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Listing Courtesy of PEN REALTY LLC
$5,199,999
Est. payment /mo
8 Beds
6,666 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,666 sqft
Price per Sqft $780
Subdivision Park Slope
MLS Listing ID RLS20041506
Style Prewar,Walk-Up
Bedrooms 8
HOA Y/N No
Year Built 1885
Annual Tax Amount $60,577
Property Sub-Type Multi Family
Property Description
Located just steps from Prospect Park in the heart of Park Slope, 123 8th Avenue is a well-maintained 9-unit multifamily building offering both strong in-place income and long-term upside. This classic Brooklyn asset includes a balanced unit mix of five (5) one-bedroom apartments, two (2) two-bedroom apartments, and two (2) studio apartments. The property features six free market units and three rent-stabilized units. All residences have been recently renovated and are in excellent condition, with layouts ranging from approximately 550 to 1,000 square feet.
Current gross monthly income is $33,350, totaling over $400,000 annually. Operating expenses include $750/month for electric and gas, approximately $12,000 annually for water, and real estate taxes of $65,412 per year. Additional expense details and supporting financial documentation are available upon request.
This is a prime turnkey opportunity for investors seeking a stabilized, cash-flowing asset in one of Brooklyn's most desirable neighborhoods. Surrounded by top-rated schools, transportation, shopping, and dining—and just moments from Prospect Park—123 8th Avenue represents a rare blend of location, condition, and rental income potential.
This is a Pen Realty Signature Listing.
Current gross monthly income is $33,350, totaling over $400,000 annually. Operating expenses include $750/month for electric and gas, approximately $12,000 annually for water, and real estate taxes of $65,412 per year. Additional expense details and supporting financial documentation are available upon request.
This is a prime turnkey opportunity for investors seeking a stabilized, cash-flowing asset in one of Brooklyn's most desirable neighborhoods. Surrounded by top-rated schools, transportation, shopping, and dining—and just moments from Prospect Park—123 8th Avenue represents a rare blend of location, condition, and rental income potential.
This is a Pen Realty Signature Listing.
Location
State NY
County Kings
Interior
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
Private Pool No
Building
Dwelling Type Multi Family
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 01072-0005
Ownership None
Monthly Total Fees $5, 048
Pets Allowed Building Yes, Yes
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RLS Data display by Brooklyn Heights Real Estate
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