1612 coney island ave, Brooklyn, NY 11230

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/user. 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: $60,000 (Annually) Apartment # 1 Two Bedroom: $21,600 (Annually) Apartment # 2 One Bedroom: $18,000 (Annually) Total Projected Income: $99,600 Expenses Fuel: $3,000 Water: $2,400 Insurance: $2,100 Taxes: $5,872 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