557 5th Avenue

Park Slope

$4,000,000
Price
Beds
4,890 Sq. Ft.
$818 / Sq. Ft.
4,890
Sq. Ft.
$818
per Sq. Ft.

Description

A prime mixed-use building nestled in the heart of vibrant Park Slope, Brooklyn. This corner property boasts a strategic location and presents an excellent investment opportunity. The well-maintained building features a mix of residential and commercial spaces, comprising four apartments and three stores. With a current rent roll of $213,200, and a projected rent roll within a year is $288,000, this property showcases its income-generating potential. Each apartment is thoughtfully designed, offering...A prime mixed-use building nestled in the heart of vibrant Park Slope, Brooklyn. This corner property boasts a strategic location and presents an excellent investment opportunity. The well-maintained building features a mix of residential and commercial spaces, comprising four apartments and three stores. With a current rent roll of $213,200, and a projected rent roll within a year is $288,000, this property showcases its income-generating potential. Each apartment is thoughtfully designed, offering two bedrooms and a well-appointed bathroom. The interiors boast newer granite floors, kitchens, and bathrooms, ensuring a modern and comfortable living experience for residents. The strategic placement of this mixed-use gem provides not only a steady income stream but also high upside potential for future growth and profitability. Don't miss the chance to own a piece of Park Slope's thriving real estate landscape.
  1. Listed by Leonid Sklyar • RE/MAX Edge
  2. Listed by Albert Taye • RE/MAX Edge

Amenities

  • Parking Included
  • Lowrise
LISTING UPDATED: 08/14/2024 12:18 PM

Property Details for 557 5th Avenue

StatusActive
MLS ID480354
Days on Market256
Taxes$47,236 / year
Maintenance-
Min. Down Pymt-
Total Rooms-
Compass TypeMixed Use
MLS TypeMixed Use
Year Built1925
Lot Size1,740 SF / 20' x 87'
CountyKings County

Building

557 5th Ave

10 Units3 StoriesBuilt in 1925

Building Information for 557 5th Avenue

Stories3Residences10Year Built1925Lot Size1,740 SF / 20' x 87'Building Age-Building Type-

Property Information for 557 5th Avenue

Summary
Location and General Information
  • Block: 1048
  • Number Of Stories: 3
  • Cross Street Name: 15th St
  • Cross Street Name: 16th St
  • Zoning: C4-3A
  • Roof: Flat, Rubber
Parking
  • Parking Attributes: None
  • Parking Feature Single: Street
Taxes and HOA Information
  • Financing: Bank Mortgage, Cash
  • Tax Amount: 47236.0
  • Gross Expense: 72550.0
  • Gross Income: $213,200.00
  • Miscellaneous Expense: 2000.0
  • Cap Rate: .04%
Property
Lot Information
  • Lot Dimensions: 20 x 87
  • Sq Ft Total: 4890
  • Yard: Other
  • Lot Number: 10
  • Lot Size Irregular YN: No
  • Lot Size Length: 87
  • Lot Size Width: 20
Property and Assessments
  • Commercial Condo YN: No
Utilities
  • Heat Delivery: Steam/Radiator
  • Heating Fuel: Gas
  • Hot Water: Gas
  • Utility Expense: 700.0
  • Fuel Expense: 9200.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: Cellar, Finished
  • Commercial Features Interior: None
  • Foundation Details: Poured Concrete
  • Flooring: Ceramic, Granite
  • Unit Count: 7
  • Lavatories: Unknown
  • Construction Materials: Block
  • Electric: 110 V, 200 Amp
Exterior Features
  • Exterior: Brick
  • Commercial Features Exterior: Fence - Full
  • Handicap Access YNU: No
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 1400.0
  • Building Length: 70.0
  • Building Type: Semi-Detached
  • Building Width: 20.0
Unit 1
  • Unit Category: Store
  • Unit Current Rent: 3925.0
  • Unit Floor: 1
  • Unit Status: Leased
  • Unit Unit Type: Retail
Unit 2
  • Unit Category: Store
  • Unit Current Rent: 1800.0
  • Unit Room Description: pharmacy
  • Unit Floor: 1
  • Unit Occupant: lease exp 4/31/2026
  • Unit Status: Leased
  • Unit Unit Type: Medical
Unit 3
  • Unit Category: Store
  • Unit Current Rent: 2400.0
  • Unit Room Description: car service
  • Unit Floor: 1
  • Unit Number Of Units: 1
  • Unit Occupant: lease exp 3/31/2027
  • Unit Status: Leased
  • Unit Unit Type: Other
Unit 4
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2700.0
  • Unit Floor: 2
  • Unit Number Of Units: 2
  • Unit Occupant: lease exp 7/31/2024
  • Unit Projected Rent: 4000.00
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Unit 5
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2200.0
  • Unit Floor: 2
  • Unit Number Of Units: 3
  • Unit Occupant: lease exp 5/31/2024
  • Unit Projected Rent: 4000.00
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Unit 6
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2700.0
  • Unit Floor: 3
  • Unit Number Of Units: 3
  • Unit Projected Rent: 4000.00
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Unit 7
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2050.0
  • Unit Floor: 3
  • Unit Number Of Units: 4
  • Unit Occupant: lease exp 12/31/2024
  • Unit Projected Rent: 4000.00
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Agent
Agent Information
  • Net Operating Income: 140000.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 8400.0
  • Owner Occupied: No

Property History for 557 5th Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 557 5th Avenue

This home is within Nyc Geog District #15 - Brooklyn.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
John Jay School for Law
Public9 to 12

Jhs 88 Peter Rouget
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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557 5th Avenue is a mixed use property for sale in Park Slope. This property was listed for sale on March 6, 2024 by RE/MAX Edge, it's currently listed at $4,000,000. This listing's school district is Nyc Geog District #15 - Brooklyn. Nearby schools include P.S.10 Magnet School for Math, Science & Design Technology, New Voices School Of Academic And Creative Arts and John Jay School for Law. 557 5th Avenue is a 0-bed, 0-bath, 4,890 sqft mixed use property built in 1925.

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Listing Courtesy of RE/MAX Edge

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.