Marcus and Millichap has successfully sold 414 Prospect Avenue, a three story building comprised of five free-market apartments and one rent-stabilized apartment. 414 Prospect Avenue totals 4,875 gross square feet and measures 25 feet wide by 65 feet deep on a lot that extends 90.17 feet. The subject property is located on Prospect Avenue between 7th and 8th Avenue in the Park Slope neighborhood of Brooklyn.

The subject offering is a rare opportunity to acquire a day one 5 percent CAP with options to immediately access upside during the hold period. Due to the free-market status of the majority of the units, a new investor will be able to access upside within the first year upon expiration of leases. Once renovated, apartments in this particular section of Park Slope are renting at about $40-$45 per square foot. One of many recommended strategies is to duplex the first floor apartments into the basement creating an increase in rentable square footage.

The property is located within a eight minute walk to the 15th Street-Prospect Park "F" and "G" train station providing flexible commute option into Manhattan and other parts of Brooklyn.

• Park Slope South Six-Unit Value Add Offering Between 7th and 8th Avenue
• Five Deregulated Units
• Current Rent Roll is $37 per Square Feet in a Market Achieving $45 per Square Feet
• Both First Floor Apartments Include Separate Backyard Access
• Situated Five Blocks Away From Historic Prospect Park Bartel-Pritchard Square
• Low Tax Bill of $9,306