#488209, Listing Office: Real Broker LLC
$10,000
closing credit¹
1516 W 5th St Brooklyn, NY 11204
$1,580,000 List price
$10,000
Closing credit¹
17 beds
10 full
6,560 sqft
$241 / sqft
Multi-Family
Property details
About 1516 W 5th St
owner financing available -- 6.5% cap rate. A stunning 8-unit apartment building offering an exceptional opportunity for savvy investors or owner occupied . 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!
Highlights
Home typeMulti Family
HeatingSteam, Other
StatusActive
CoolingOther
Size6,560 sqft
BasementYes
ParkingOther, None
MLS #487512
FireplaceOther
Virtual tour
Summary
- MLS Number: 487512
- Office Name: RE/MAX Edge
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Last updated on: 2/6/2025, 9:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,580,000
1516 W 5th St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Nov 16, 2012 | Home Sold | $1,074,000 |
| Aug 09, 2006 | Home Sold | $962,000 |
| Feb 15, 2000 | Home Sold | $275,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $555,300 | $33,397 |
| 2023 | $514,350 | $30,926 |
| 2021 | $472,500 | $26,016 |
| 2019 | $517,500 | $26,449 |
| 2018 | $190,286 | $22,410 |
| 2017 | $176,194 | $21,032 |
History based on county public records data.
Nearby schools
6
P.S. 177 Marlboro School
Public District KG-5
0.3 mi
•346 Avenue P
9
Success Academy Charter School - Bensonhurst
Public Charter KG-4
0.3 mi
•99 Avenue P Fl 4
8
P.S. 247 Brooklyn
Public District KG-5
0.4 mi
•7000 21st Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $34,237. Most Brooklyn, NY residents have annual incomes less than $<35k. The majority of families are single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
51%
<35k
31%
35k-100k
17%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
44%
Single, No Kids
7%
Single, with Kids
23%
Married, No Kids
26%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
14%
<11 yrs old
5%
12-17 yrs old
29%
18-34 yrs old
40%
35-64 yrs old
12%
65+ yrs old
What do the neighbors do for fun?
Major League Soccer (MLS)
Art Museums
Hiking/backpacking
Where do the neighbors shop?
Banana Republic
Bloomingdales
H&M
Where do the neighbors go to eat?
Jack In The Box
Starbucks
Chipotle
What do the neighbors drive?
Toyota
Audi
Volkswagen
What do the neighbors listen to?
Jazz
News
Alternative
All data provided by Home Junction and Claritas
Similar homes for sale
This home is located at 1516 W 5th St in Brooklyn, NY and zip code 11204 in the Bensonhurst neighborhood. Features: 17 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since November 18, 2024 and is currently priced at $1,580,000.
Brooklyn, NY housing market in January 2025 saw over 31 listings sold above listed price, more than 254 sold at listed price and over 154 sold below. The inventory of homes for sale in Brooklyn, NY between December and January 2025 decreased by 4.4%. In January 2025, listings were on the market for 93 days. During the same period, the median list price in this real estate market was $991,265.
From Rocket Homes Real Estate and based on county public records data.