1516 W 5th St

New York NY 11204

6560 sq. ft.

2000 sq. ft.

Multi-Family

Last sold for $1,300,000

Joe Zhu, last sold this property on 15 January 2026 after 966 days on market.

Overview

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!

Features

17 bedrooms

10 bathrooms

6560 sq. ft. floor area

2000 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 17 bedroom multi families sold in New York over the last 12 months.

Property history for 1516 W 5th St

2026

Sold

$1,300,000

15 Jan 2026 by Joe Zhu, of RE/MAX Edge

Happy sellers in New York

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