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Fully occupied mixed-use building in prime Park Slope featuring four residential units and established retail tenant. Turnkey investment offering 5.2% cap rate with stable income and no immediate capital requirements. Currently, 1 apartment is for sale.
397 Fifth Avenue is a three story mixed use condominium in Park Slope, built in 1899 on the neighborhood’s Fifth Avenue retail corridor. The building has four residential apartments above ground floor commercial space.
The residential component consists of four two bedroom rental apartments, each organized with front and back layouts. This arrangement gives the apartments a clear separation between exposures and living zones while retaining the compact scale of the low rise building.
The property is fully occupied and in turnkey condition, with no immediate renovations or repairs indicated. Its location places the residences directly on one of Park Slope’s established commercial avenues, with the character of an older, small scale building rather than a larger residential development.
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