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5221 Flatlands Avenue

$9,000,000

Est. $55,243/mo

Brooklyn, NY 11234 · Brooklyn

Status
Active
On site
633 days

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About this home

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.

Listed with Blue Key Real Estate Brokerage · Reginald Brannen · Source: OneKey MLS

One Key MLS

Information provided by One Key MLS, and is deemed reliable but not guaranteed accurate. Data last updated: Sep 17, 2026, 6:08 PM ET. ©2026 One Key MLS.

Estimate Your Monthly Payment

Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.

$55,242.56Total / mo

Estimated Monthly Payment

Principal & interest
$44,331.64 (80.2%)
Taxes
$10,710.92 (19.4%)
Insurance
$200.00 (0.4%)

Representative rates

Representative rates only, indicative for comparison. Edit the interest rate for your own quote; your lender’s numbers vary with credit, points, and insurance.

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Market Insights

The market around Brooklyn, NY

Current Listings

New in the last 30 days

218

Sep 2026

Average Price

Active listings

$1,286,329

Sep 2026

Average Days on Market

Active listings

176 days

Sep 2026

Computed from 1,572 active OneKey MLS listings in Brooklyn, NY.

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