Premier Nine Unit Multifamily Investment OpportunityIdeally situated just moments from Prospect Park in the heart of Park Slope, 123 8th Avenue presents an exceptional opportunity to acquire a well maintained ...
Listing
| Web ID: | 5838840 |
|---|---|
| Website: | https://www.nestseekers.com/5838840 |
| Cross street: | Montgomery Place |
| Building: | 123 8th Avenue Brooklyn |
| Type: | Townhouse |
| Era: | Post-war |
| Floors: | 4 |
Property
| Ownership: | Multi-Family |
|---|---|
| Rooms: | 14 |
| Bedrooms: | Studio |
Financials
Description
Premier Nine-Unit Multifamily Investment Opportunity
Ideally situated just moments from Prospect Park in the heart of Park Slope, 123 8th Avenue presents an exceptional opportunity to acquire a well-maintained nine-unit multifamily property in one of Brooklyn's most established and desirable residential neighborhoods.
This classic Brooklyn building offers a thoughtfully balanced unit mix consisting of five (5) one-bedroom apartments, two (2) two-bedroom apartments, and two (2) studio residences. The property includes six (6) free-market apartments and three (3) rent-stabilized apartments, providing a combination of established rental income and potential long-term appreciation.
The residences have been recently renovated and are maintained in excellent condition, offering attractive living spaces in a neighborhood known for its historic architecture, vibrant community, and enduring rental demand.
Investment Highlights
- Total Residential Units: 9
- Unit Mix: 5 one-bedroom, 2 two-bedroom, and 2 studio apartments
- Rental Classification: 6 free-market and 3 rent-stabilized apartments
- Gross Monthly Rental Income: $33,350
- Gross Annual Rental Income: $400,200
Reported Operating Expenses
- Real Estate Taxes: $65,412 annually
- Water: Approximately $12,000 annually
- Electric and Gas: Approximately $750 monthly ($9,000 annually)
Additional operating expenses, rental information, and supporting financial documentation are available upon request.
An Exceptional Park Slope Location
Located by Prospect Park, 123 8th Avenue offers residents convenient access to neighborhood restaurants, boutique shopping, cultural attractions, education institutuions, and public transportation. Park Slope continues to attract residents seeking the unique combination of classic Brooklyn charm, neighborhood amenities, and accessibility to Manhattan.
For investors seeking an established income-producing property in a premier Brooklyn location, 123 8th Avenue offers a compelling combination of location, residential demand, and long-term investment potential.
Exclusively Presented by Douglas Elliman Real Estate
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Amenities
- Basement
- Voice Intercom
