Multi Family, 524 5TH Street #, Park Slope-Gowanus - Real Estate New York

Description

Prime Park Slope Investment Opportunity - Fully Leased 8-Unit Pre-War Multifamily

Located on a picturesque, tree-lined block in the heart of Park Slope, 524 5th Street presents a rare opportunity to acquire a well-maintained, income-generating multifamily asset. This stately 4-story, 8-unit building spans approximately 7,104 square feet and sits on a 25.5" x 83" lot. Built in 1920, the property showcases timeless architectural details and has been thoughtfully preserved by its current owner.

Property Highlights:

Eight spacious floor-through apartments, 4 stabilized & 4 market rent, each featuring:
- Two true bedrooms and one full bathroom
- High ceilings and expansive living rooms
- Separate eat-in kitchens with modern appliances
- Original hardwood floors, crown moldings, and stained glass accents
- Abundant natural light from three exposures and multiple windows

Central stairwell providing access to all units
Fully leased, offering immediate and stable rental income
Full English basement

Location & Accessibility:
Situated just one block from Prospect Park and 500 feet from the vibrant retail corridor of 7th Avenue, residents enjoy unparalleled access to local amenities, including cafes, boutiques, banks, pharmacies, and the renowned Park Slope Farmers Market. The F and G subway lines at 7th Avenue are a mere four blocks away, ensuring a swift commute to Manhattan and other parts of Brooklyn.

Investment Potential:
With its prime location, historic charm, and solid rental history, 524 5th Street is an exceptional addition to any investor's portfolio. The property's pre-war character combined with modern updates appeals to discerning tenants, ensuring continued demand and minimal vacancy.
Listing courtesy of Corcoran Group ...
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