For Sale

Listed by Nat Guerriera from Pen Realty LLC

Source: Brooklyn Board of REALTORS® #494864

123 8th Avenue, New York, NY, 11215

$5,199,999

8
8
6666 sq. ft.
2576 sq. ft.

MultiFam

30+ days on the market

What's around 123 8th Avenue

About this property

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.

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