$2,150,000 $4,390,000
Updated a day ago

7127 5th Ave

Bay Ridge, Brooklyn | Ovington Ave & 72nd Street

7 Beds7 Baths4,800 Square FeetMixed Use

$2,150,000 $4,390,000
floors / apts4 / 7
Lot Size20'x100'4"
Built Size20'x60'
ZoneR6B
Building TypeLow-Rise
RE Taxes$23,491
Price Per SF
$448

Listing Features

  • Radiator

Building Amenities

  • Voice Intercom

Property Description for 7127 5th Ave

This is a rare opportunity to own a mixed-use building on the desirable 5th Avenue in Bay Ridge, Brooklyn. The property features 7 one-bedroom apartments and 1 commercial space, with only one free-market unit and the rest rent-stabilized. The residential units have been beautifully renovated with modern finishes and amenities, and the common areas and utilities have been updated in the last 5 years. The commercial tenant - doctor’s office with leases ending in 2024 and 2025, providing stable income and low turnover. The property benefits from a 2B Tax Class that limits tax increases. The location is ideal for residents who want to enjoy the neighborhood’s attractions and parks, such as the Alpine Cinema, Gino’s Restaurant, Lief Erickson Park, McKinley Park and Owl’s Head Park, all within a short distance. The property is also well-connected to public transportation, with the Bay Ridge Avenue R train station and the B63 bus route nearby, as well as easy access to major highways like the Gowanus Expressway and Belt Parkway. Don’t miss this chance to invest in a turn-key property with strong cash-flow potential on a prime retail corridor.

Listing History for 7127 5th Ave

Now
03/15/2024
$2,150,000 [-$2,240,000] [51%]
Price Drop by Vito Angelo
RE/MAX Real Estate Professionals
03/06/2024
$4,390,000
Initial Price by Vito Angelo
RE/MAX Real Estate Professionals

Building Details for 7127 5th Ave

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1907
Floors/Apts4/7
Learn More About the Building

Contact Agents

Contact Agents

Vito Angelo
RE/MAX Real Estate Professionals
Billy Apter
RE/MAX Real Estate Professionals
View this property on the company's website

Bay Ridge | Brooklyn

Lush front yards and trimmed hedges are pretty common in Bay Ridge.

Quick Profile

Bay Ridge is an old-world neighborhood neatly tucked into the southwest corner of Brooklyn within the shadows of the Verrazano Bridge. The neighborhood is encircled by the Belt Parkway along the shore line and the Gowanus Expressway inland.

Bay Ridge, long known for its generational pull, has historically been home to a diverse number of ethnic groups. While the area is flush with people of Irish, Italian and Greek descent, these ethnic communities have been joined by larger numbers of new groups, including people with Russian, Polish, Asian and Middle Eastern backgrounds. The Arab American community today in Bay Ridge represents the largest concentration of Arab Americans in New York City.

For many years, Bay Ridge and its waterside location, would attract the affluent. But most of the mansions that once lined Shore Road are long gone and have been replaced by six-story apartment buildings.  

Aside from the low-rise apartment buildings, the neighborhood pretty much consists of one and two-family homes. Lush front yards and trimmed hedges are pretty common here.  

Current zoning and limitations on building heights restrict any out of the norm development. At present, the future beholds small development on some of the commercial strips and teardowns of older homes for smaller residential projects.

Similar Listings in Bay Ridge

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 94746TH