2877 West 20 Street

05-30-2021
11-29-2021

2877 West 20 Street, BROOKLYN, NY 11224

Coney Island amusement Park, Nathan, Ferry shuttle to City, Cyclone, Main Subway HUB, Ferris Wheel, Attraction, Beach

Property Description

Coney Island Amusement Park, Nathan, Ferry shuttle to City, Cyclone, Main Subway HUB, Ferris Wheel, Attraction, Beach. Coney Island Brick legal 8 family Fully renovated 8 Units / 2 one bedrooms / 6 studios. stabilized units- Includes 8 Units. All units are fully occupied and pay monthly. There is separate gas and electric meters. There is plenty of upsides in rental increases. CURRENT GOI = $114,593.04 CURRENT NOI = $96483.04 Gross Expense $ 18,110 CURRENT CAP RATE 8% huge backyard! New roof, Sprinkler system, Stairways & many other updates! On 20 ft x 117.58 ft Building size 20 ft x 55 ft R5 zoning! Just unpack & collect rent! Actual Financials: .Fully occupy with ACTUAL 8% Cap Rate / Separate gas and electric meters for each unit. Huge backyard! Few blocks away -Near train , shopping off Neptune Avenue! Steps to beach! Huge price reduction from initial $1.490 Million Very well maintained building with no violation! DHCR available - all tenant are CURRENT pays on time. ID#420-013

Key Property Information

Listing Status
Available
Multifamily type
Garden Style
Price
$ 999,999
No. of Units
8
Cap Rate
8%
Average Occupancy
0%
Building Size
2,055 Sq ft
Lot Size
20,117.58 Sq ft
No. of Stories
3
Opportunity Zone
Off
Price per unit
$ 125,000
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