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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
Exterior Feature Private Outdoor Space Under 60 Sqft
Porch Patio
Private Pool No
Building
Dwelling Type Multi Family
Story 4
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $5, 048
Pets Allowed Building Yes, Yes
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