5318 16Th AveBrooklyn, NY 11204

Property Details for 5318 16Th Ave

Year built

1931

Lot size

0.05 AC

Property size (Sq ft)

4,430 SF

Zone code

R6

Property type

Investment properties

Property subtype

Live-work space

APN

05477-0042

APU

54770042

Description

This exceptional mixed-use property, located at 5318 16th Avenue in the vibrant Borough Park neighborhood of Brooklyn, New York, presents a compelling investment opportunity. The building, constructed in 1931, boasts a total area of 5,221 square feet and comprises three units, offering a blend of residential and potential commercial space. Priced at $2,550,000, this translates to a price per square foot of $488.41, reflecting strong value in the current market. Situated in Kings County, with the precise address of 5318 16th Avenue, Brooklyn, NY 11204 (40.6285351, -73.9883232), the property benefits from its location within a thriving community. The building's age suggests potential for renovation and value enhancement, while the existing three units provide immediate rental income. This presents a unique chance to acquire a well-positioned mixed-use asset in a desirable Brooklyn neighborhood, offering both current income generation and future development potential. The property's size and layout offer flexibility for a variety of uses, making it an attractive proposition for both seasoned investors and those seeking to enter the New York City real estate market. Further due diligence is recommended to fully assess the property's potential.

• CAP approach

  CAP return

  Valuation

  6%

  $732,411

  6.5%

  $676,072

  7%

  $627,781

• Comparable approach

  Method

  Valuation

  Relative Method

  $578,824

  Geo Method

  $578,824

• Alternative Use

  Use

  Valuation

  Residential

  $838,329

  Hospitality

  $767,905

  Educational

  $638,888

  Medical

  $660,860

  Retail

  $993,826

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6286

Longitude

-73.9885

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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