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5221 Flatlands Avenue

Brooklyn, NY 11234

$9,000,000

5221 Flatlands Avenue
Brooklyn, NY 11234

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Brooklyn / NY

Multi Family HIGHLIGHTS

  • Property Type

    Commercial Sale, Multi Family

  • Style

    Colonial

  • Year Built

    2009

  • Heating

    Yes - Baseboard, Other

  • Stories

    3

  • RE Tax

    $5,905

Listing courtesy of Reginald Brannen of Blue Key Real Estate Brokerage.

Fully Occupied 24-Unit Investment Property in Old Mill Basin, Brooklyn

Located in the highly desirable Old Mill Basin section of Brooklyn, this fully occupied 24-unit brick building presents a prime opportunity for investors with significant upside potential.

Each unit is equipped with separate HVAC systems and individual hot water tanks, with tenants responsible for all utilities except water, keeping operating costs low. The building features 16 covered parking spaces, 10 storage units, and a laundry room, unlocking major potential for added revenue.

Key Highlights:

16 on-site parking spots (projected: $67,200/year at $350/month)
10 storage units (projected: $33,000/year at $275/month)
Laundry room income (projected: $9,000/year outsourced)
Total projected additional income: $109,200/year
NOI: $478,505 | Projected Cap Rate: 5.0%
15-Year Tax Abatement Expired
Low common area expenses
Viewings by appointment only
Ideal for 1031 Exchange or long-term investors
This property offers immediate cash flow with room to increase income, making it a smart addition to any real estate portfolio.
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  • City Region

    Brooklyn

  • Elementary School

    Ps 236 Mill Basin, Brooklyn 22 District

  • High School

    Midwood High School, Brooklyn 22 District

  • MLS #

    807492

  • Middle School

    Jhs 78 Roy H Mann, Brooklyn 22 District

  • Property Type

    Multi Family

  • Year Built

    2009

  • Laundry Features

    Inside, Laundry Room

  • Architectural Style

    Colonial

  • Building Area Total

    2204

  • Construction Materials

    Vinyl Siding

  • Number of Buildings

    1

  • Total Number of Units

    24

  • Total Stories

    3

  • Year Built

    1920

  • Community Features

    Other

  • Elementary School

    Contact Agent

  • High School

    HEALTH ARTS ROBOTICS AND TECHNOLOGY HIGH SCHOOL

  • Middle or Junior School

    Is 59 Springfield Gardens

  • Fencing

    Front Yard

  • Garage

    Yes

  • Garage Spaces

    1

  • Parking Features

    Carport, Covered, Detached, Driveway

  • Total Parking

    5

  • Annual Taxes

    $5,905

  • Tenant Pays

    Electricity, Gas

  • Appliances

    Dishwasher, Dryer, Gas Range, Microwave, Refrigerator, Stainless Steel Appliance(s), Tankless Water Heater, Washer

  • Basement

    Finished, Full

  • Flooring

    Hardwood

  • Heating

    Yes - Baseboard, Other

  • Interior Features

    Built-in Features, Double Vanity, Eat-in Kitchen, Entrance Foyer, Granite Counters, High Ceilings, His and Hers Closets, Kitchen Island, Natural Woodwork, Open Floorplan, Other, Pantry, Recessed Lighting

  • Total Rooms

    15

  • Cross Street

    East 53rd Street

  • Sewer

    Public Sewer

  • Utilities

    Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected

  • Water Source

    Public

in US Dollars

%

Total/Month

  • Principal & Interest
  • Property Taxes (monthly) $10,711

 *The values provided are approximate. For more precise information, please contact a BHS agent who can offer further assistance.

5221 Flatlands Avenue

Location

Nearby Points of Interest

  • Universal Medical of New York

    Health Care, Independent

  • Yakutilova, Yelena PA

    Health Care, Independent

  • Neckritz, Jay C DDS

    Health Care, Independent

  • Teplitz, Gerald, DO

    Health Care, Independent

  • Little White Dress LLC

    Clothing, Independent

Data courtesy of LocalLogic.co

Flatlands
Neighborhood

Flatlands

Flatlands is a residential neighborhood in southeastern Brooklyn bordered by Marine Park, Canarsie, and Midwood. Originally settled in the 17th century as part of the Dutch town of Nieuw Amersfoort, it developed primarily in the mid-20th...

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5221 Flatlands Avenue

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