Skip to main content
Back to Search Results
|

2723 West 16th Street, Brooklyn, NY 11224

Show All 43 Photos
For Sale

$1,500,000

8 beds • 4 baths • 3,084 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Single Family Attached
    Property type

  • $486.38
    Price per square foot

Explore this Property

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!
MLS# 480297

Courtesy Of eXp Realty BKNY

(888) 276-0630

Property Features

  • Amenities
    Dock
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Brick, Vinyl Siding
  • Floor Covering
    Laminate
  • Heating System
    Baseboard
  • Lot Size
    0.11 Acres

Map and Directions

Directions to 2723 West 16th Street, Brooklyn, NY 11224

Home seller CENTURY 21 Milestone Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Milestone Realty

(718) 291-7000
Learn More About Us

Mortgage Calculator

$
$ %
Loan Term
%
Invalid number

$ /year
$ /year
$ /month

Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $0

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

An Equal Opportunity Company

Copyright © 2024 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Loading