Description
Attention commercial investors, builders, and home buyers! Here's your chance to acquire a substantial residential property with boundless commercial potential in the vibrant enclave of Coney Island. This fully detached 2-family house, presents an unparalleled opportunity for lucrative investment or development.
Features:
Gut Renovated less than six years ago, this property underwent a gut renovation, ensuring modern comfort and functionality, followed by touch ups and cosmetic updates in 2024.
Generous Space: 8 bedrooms and 4 baths offer ample room for various living and investment arrangements.
Versatility: M1-2 zoning allows for diverse possibilities from manufacturing to retail.
Income Potential: Currently generating income from rented garages, with substantial projected rents.
Convenient Location: Close to the beach, boardwalk, and major highways, enhancing accessibility.
Low Taxes: Benefit from very low taxes, maximizing profitability.
Investment Potential:
Explore residential and commercial ventures, from manufacturing to community facilities.
Convert to manufacturing facilities, offices, retail outlets, or elevated parking.
Consider a community facility such as a daycare, hotel, or hospital.
Current Financial Snapshot:
Total month rent roll: $8, 125/m
Total monthly expenses: about $1,128/m (1000/month: taxes=420/m, insurance=208/m, gas=250/m, water=125/m)
Net monthly profit: over $7,125/m
Net annual profit: 85,500 (producing over 6.5% ROI)
Contact:
Seize this extraordinary opportunity to embark on a winning project. Call now to turn your vision into reality!
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Features:
Gut Renovated less than six years ago, this property underwent a gut renovation, ensuring modern comfort and functionality, followed by touch ups and cosmetic updates in 2024.
Generous Space: 8 bedrooms and 4 baths offer ample room for various living and investment arrangements.
Versatility: M1-2 zoning allows for diverse possibilities from manufacturing to retail.
Income Potential: Currently generating income from rented garages, with substantial projected rents.
Convenient Location: Close to the beach, boardwalk, and major highways, enhancing accessibility.
Low Taxes: Benefit from very low taxes, maximizing profitability.
Investment Potential:
Explore residential and commercial ventures, from manufacturing to community facilities.
Convert to manufacturing facilities, offices, retail outlets, or elevated parking.
Consider a community facility such as a daycare, hotel, or hospital.
Current Financial Snapshot:
Total month rent roll: $8, 125/m
Total monthly expenses: about $1,128/m (1000/month: taxes=420/m, insurance=208/m, gas=250/m, water=125/m)
Net monthly profit: over $7,125/m
Net annual profit: 85,500 (producing over 6.5% ROI)
Contact:
Seize this extraordinary opportunity to embark on a winning project. Call now to turn your vision into reality!
Building Features 2 Floors2 Units
intercom
$1,500,000 / $486 per ft²
Last Asking: Jan 08, 2025
8 Beds / 4 Baths - / 3,084 ft²
Total Monthly expenses: $419
Maintenance: - / R.E. Taxes $419
Other Details:
Two Family
Lot Size: 40.0' x 118.75' Built: 28.0' x 40.0'
Zoning: B1-9
Unit listing history
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