Property Description

Located just steps from Prospect Park in the heart of Park Slope, 123 8th Avenue is a well-maintained 9-unit multifamily building offering both strong in-place income and long-term upside. This classic Brooklyn asset includes a balanced unit mix of five (5) one-bedroom apartments, two (2) two-bedroom apartments, and two (2) studio apartments. The property features six free market units and three rent-stabilized units. All residences have been recently renovated and are in excellent condition, with layouts ranging from approximately 550 to 1,000 square feet.Current gross monthly income is $33,350, totaling over $400,000 annually. Operating expenses include $750/month for electric and gas, approximately $12,000 annually for water, and real estate taxes of $65,412 per year. Additional expense details and supporting financial documentation are available upon request.This is a prime turnkey opportunity for investors seeking a stabilized, cash-flowing asset in one of Brooklyn's most desirable neighborhoods. Surrounded by top-rated schools, transportation, shopping, and dining?and just moments from Prospect Park?123 8th Avenue represents a rare blend of location, condition, and rental income potential.This is a Pen Realty Signature Listing.

Property Features