FOR SALE BY OWNER
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1612 Coney Island Ave, Brooklyn, NY 11230
1612 Coney Island Ave, Brooklyn, NY 11230
$1,890,000
$727/sq ft
3 Beds
3.0 Baths
2,600 Sq Ft
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About This Property
Mixed use building up for sale in Midwood Brooklyn.
Building is in excellent shape And will be delivered
vacant. Turnkey opportunity for an investor or owner.
Call owner Ron
This is rare opportunity to own on busy Coney Island Ave.
Building is currently partially vacant and can be delivered fully vacant at closing.
Ideal property for an owner/user
First floor is a vacant renovated retail space consisting of 1,300 Sq Ft with an additional 700 Sq Ft backyard.
Second floor has 2 residential apartments. One apartment is a 2 bedroom and the other apartment is a 1 bedroom.
Unfinished basement can be accessed from outside of the building and through the retail space.
Building has an additional 1,400 Sq Ft of air rights.
Projected Income:
Store: $72,000 (Annually)
Total Projected Income: $126,000
Expenses
Fuel: $3,000
Water: $2,400
Insurance: 4500
Taxes: $8200
Net Income: $86,228
Projected Cap Rate: 6%
Midwood is a vibrant and financially thriving neighborhood.
Building is within walking distance of the B/Q/F trains.
Property Type
Multi Family
Year Built
1931
Lot Size
2,000 sqft
Features & Amenities
Interior Features
- Brick
- Fireplace
- Other
- Unfinished
Property Owner
PO
Property Owner
Property Owner
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Mortgage Calculator
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Estimated Monthly Payment
$12,049
Payment Breakdown
Principal & Interest
$10,059
Property Tax
$1,890
Home Insurance
$100
HOA Fees
$0
Loan Amount
$1,512,000
Total Interest Paid
$2,109,375
Total Cost
$3,621,375