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  • 123 8th Avenue
  • $ 5,199,999
123 8th Avenue Park Slope Brooklyn NY 11215
123 8th Avenue Park Slope Brooklyn NY 11215
123 8th Avenue Park Slope Brooklyn NY 11215
123 8th Avenue Park Slope Brooklyn NY 11215

123 8th Avenue

Park Slope   |   Carroll St & Montgomery Pl

Building For Sale
$ 5,199,999
Ownership Multi-Family
Lot Size 23'x112'
Status Active
Real Estate Taxes [Per Annum] $ 60,577
Building Size 23'x50'
Year Built 1885
ASF/ASM 6,666/619
 

Photos

123 8th Avenue Park Slope Brooklyn NY 11215
123 8th Avenue Park Slope Brooklyn NY 11215

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
123 8th Avenue Park Slope Brooklyn NY 11215

Property Description

Located just minutes from Prospect Park in prime Park Slope, is a beautifully maintained 9-unit multifamily building offering strong in-place income and long-term upside. The property includes five free market and four rent-stabilized units, featuring a mix of one- and two-bedroom layouts ranging from approx. 550 to 1,000 sq ft. All apartments have been recently renovated and are in excellent condition. Current gross monthly income is $33,350, or over $400K annually. With reported annual expenses adjusted for recent capital improvements, the projected NOI exceeds $730K, resulting in an estimated cap rate of 12.22%. This turnkey asset is ideal for investors seeking stable returns in a high-demand Brooklyn neighborhood, near Prospect Park, top schools, shopping, dining, and transportation.
Located just minutes from Prospect Park in prime Park Slope, is a beautifully maintained 9-unit multifamily building offering strong in-place income and long-term upside. The property includes five free market and four rent-stabilized units, featuring a mix of one- and two-bedroom layouts ranging from approx. 550 to 1,000 sq ft. All apartments have been recently renovated and are in excellent condition. Current gross monthly income is $33,350, or over $400K annually. With reported annual expenses adjusted for recent capital improvements, the projected NOI exceeds $730K, resulting in an estimated cap rate of 12.22%. This turnkey asset is ideal for investors seeking stable returns in a high-demand Brooklyn neighborhood, near Prospect Park, top schools, shopping, dining, and transportation.

Listing Courtesy of Pen Realty LLC

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775

Care to take a look at this property?

123 8th Avenue Park Slope Brooklyn NY 11215
123 8th Avenue Park Slope Brooklyn NY 11215

Building Details [123 8th Avenue]

Ownership Multi-Family
Block/Lot 1072/5
Building Size 23'x50'
Zoning R7B
Year Built 1885
Floors 4
Lot Size 23'x112'

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Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
MLSID: 494864