524 5th St New York City, NY 11215
Park Slope NeighborhoodEstimated payment $20,939/month
Total Views
2,785
8
Beds
8
Baths
--
Sq Ft
--
Price per Sq Ft
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $25,680
Year Built
- Built in 1920
Lot Details
- 2,600 Sq Ft Lot
- Lot Dimensions are 100.00x26.00
Interior Spaces
- 4-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Full Bathrooms
Utilities
- No Cooling
Community Details
- 8 Units
- Park Slope Subdivision
Listing and Financial Details
- Legal Lot and Block 0031 / 01084
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $34,881 | $427,950 | $72,450 | $355,500 |
| 2024 | $34,881 | $345,150 | $72,450 | $272,700 |
| 2023 | $35,078 | $330,750 | $72,450 | $258,300 |
| 2022 | $34,023 | $316,350 | $72,450 | $243,900 |
| 2021 | $30,077 | $281,250 | $72,450 | $208,800 |
| 2020 | $17,520 | $373,050 | $72,450 | $300,600 |
| 2019 | $31,813 | $346,050 | $72,450 | $273,600 |
| 2018 | $30,473 | $362,700 | $72,450 | $290,250 |
| 2017 | $24,272 | $145,800 | $48,150 | $97,650 |
| 2016 | $14,465 | $144,000 | $48,150 | $95,850 |
| 2015 | $10,108 | $142,650 | $48,150 | $94,500 |
| 2014 | $10,108 | $130,950 | $48,150 | $82,800 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/08/2025 07/08/25 | For Sale | $3,450,000 | -- | -- |
Source: Real Estate Board of New York (REBNY)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $2,894,131 | -- | |
| Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $5,000,000 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in the area
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS20023189
APN: 01034-0041
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This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.
RLS Data display by Homes.com LLC
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