$1,399,999

1516 W 5th St Brooklyn, NY 11204

Bensonhurst Neighborhood

Estimated payment $10,176/month

Total Views 147,830
17 Beds
10 Baths
6,560 Sq Ft
$213 Price per Sq Ft

Highlights

  • Back, Front, and Side Yard
  • 4-minute walk to Bay Parkway (N Line)
  • Heating System Uses Steam
  • James Madison High School Rated A-
  • Multiple cooling system units
  • Community Storage Space

About This Home

A stunning 8-unit apartment building offering an exceptional opportunity for savvy investors . This well-maintained, semi-detached, four-story brick property boasts 6,560 sq. ft. of living space, featuring seven spacious 2-bedroom apartments, one charming 1-bedroom apartment, and a versatile 3-room storage facility. Fully occupied, this property generates an impressive $160,000 in annual rental income, making it a stable and high-performing asset.

Located just minutes away from the "N" Subway line and the bustling Bay Parkway shopping district, this property offers unbeatable convenience and consistently high tenant demand. Recent upgrades include modernized electrical systems, two new hot water heaters, fully renovated kitchens and bathrooms, new flooring, updated toilets in every unit, and refreshed common areas, ensuring a low-maintenance and hassle-free investment.

With its prime location, steady income, and significant upside potential, this property is a perfect choice for investors looking to expand their portfolio or those seeking a 1031 exchange. The flexibility of owner financing and a solid 6.5% cap rate make this a truly rare and compelling investment.

Don’t let this opportunity pass you by. Contact us today to schedule your private showing and secure this exceptional property!

Listing Agent

Joe Zhu

RE/MAX Edge License #10401312891 Listed on: 11/18/2024

RE/MAX Edge

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,397

Lot Details

  • 2,000 Sq Ft Lot
  • Lot Dimensions are 100 x 20
  • Back, Front, and Side Yard

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 6,560 Sq Ft Home
  • 4-Story Property

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 10 Full Bathrooms

Partially Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Utilities

  • Multiple cooling system units
  • Heating System Uses Steam

Listing and Financial Details

  • Tax Block 6601

Community Details

Building Details

  • Fuel Expense $3,000
  • Insurance Expense $7,500
  • Utility Expense $1,300
  • Gross Income $160,000

Additional Features

  • 8 Units
  • Community Storage Space

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,397

Lot Details

0

Listing Details

  • Basement Amenities: Full, Semi-Finished, Separate Entrance, Walk-in
  • Borough: Brooklyn
  • Building Footprint Sq Ft: 1640
  • Building Length: 82.00
  • Building Width: 20.00
  • Confirmed By M L S Y N: Yes
  • Cross Street: BAY PKWY
  • Handicap Access Y N U: Unknown
  • Heat Delivery: Steam/Radiator
  • Number Of Families: 8
  • Parking Attributes: Other
  • Parking Feature Single: None
  • Property Sub Type: Multi-Family
  • Prop. Type: Residential
  • Residential Features: Other
  • Fill Sq Ft Total: 6560
  • Building Stories: 4
  • Street Name I D X: 5th
  • Street Number I D X: 1516
  • Special Features: None
  • Stories: 4

Interior Features

  • Basement Full Bathrooms: 10
  • Total Bedrooms: 17
  • Flooring: Other
  • Lot Sq Ft: 2000
  • Total Rooms: 45

Exterior Features

  • Yard: Back, Front, Side
  • Exterior Building Type: Semi-Detached
  • Construction Type: Brick
  • Exterior: Brick, Other
  • Foundation Details: Other
  • Lot Number: 13
  • Roof: Other

Utilities

  • Air Conditioning Units: 5+
  • Electric: Other
  • Heating Fuel: Other
  • Hot Water: Other

Fee Information

  • Annual Fuel Expense: 3000.00

Lot Info

  • Lot Size Irregular: No
  • Lot Size Length: 100
  • Lot Size Width: 20

Rental Info

  • Rent Income: 153492

Multi Family

  • Annual Gross Expense: 55197.00
  • Annual Gross Income: 160000
  • Insurance Expense: 7500.00
  • Annual Utility Expenses: 1300.00

Tax Info

  • Flip Tax Amount: 33397.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/18/2025 04/18/25 Price Changed $1,399,999 -6.7% $213 / Sq Ft
02/15/2025 02/15/25 Price Changed $1,499,999 -5.1% $229 / Sq Ft
11/18/2024 11/18/24 For Sale $1,580,000 -- $241 / Sq Ft
Source: Brooklyn Board of REALTORS®

About the Listing Agent

Joe Zhu
Joe Zhu

RE/MAX Edge

(929) 431-1369

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PLEASE CALL 347-791-7011 EMAIL:joe@remaxedgeny.com

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# Top 5 Agent In Brooklyn-Kings County[rate my agent]

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# Chairman's Club Award

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# 100 % Club Award

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Source: Brooklyn Board of REALTORS®

MLS Number: 487512

Brooklyn Board of REALTORS®

APN: 06601-0013

New York Kings County Brooklyn 11204 Bensonhurst

1516 W 5th St, Brooklyn, NY

This home is located at 1516 W 5th St, Brooklyn, NY 11204 and is currently priced at $1,399,999, approximately $213 per square foot. 1516 W 5th St is a home located in Kings County with nearby schools including P.S.177 The Marlboro, Seth Low Intermediate School 96, and James Madison High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Brooklyn Board of REALTORS® The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.

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Joe Zhu
Joe Zhu
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RE/MAX Edge
(929) 431-1369