2850 W 17th St - Apartments FOR SALE


Brooklyn, NY 11224- Coney Island
$1,875,000 USD
646-434-9100
2850 W 17th St, Brooklyn, NY for Sale
$1,875,000 USD
Apartments - FOR SALE
1/8
null | 7.5% Cap Rate

2850 W 17th St
Brooklyn, NY 11224
Coney Island


HIGHLIGHTS

  • Free Market Rents
  • Protected Tax Class 2A
  • Fully renovated in 2019

OVERVIEW

Key highlights of the property include: - Fully Renovated: A 6-unit multifamily building in Coney Island that underwent a complete gut renovation in 2019 (including the roof, mechanicals, plumbing, and electric) with a new Certificate of Occupancy issued in 2021. - Free-Market: A 100% free-market rent roll (never rent-stabilized), offering full owner control over rents and turnover—ideal for a 1031 exchange. - Financials: Priced at $1,875,000 ($312,500/unit, $530/SF) with a 7.50% in-place cap rate and a Net Operating Income (NOI) of $140,658. - Location: Prime location steps from the Coney Island boardwalk and beach, and approximately 0.3 miles from the Stillwell Ave subway terminal (D, F, N, and Q lines).

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$530 USD /SF

# OF UNITS

6

PRICE/UNIT

$312,500

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,024 SF

ZONING

R6

APN/PARCEL ID

07020-0029

ASK ABOUT THIS PROPERTY

Andrey KisheyevPrimeRock Real Estate GroupMore Info
646-434-9100

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Andrey KisheyevPrimeRock Real Estate GroupMore Info
646-434-9100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.