2723 W 16th St Brooklyn, NY 11224

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! Continue reading