2723 West 16th Street
Description
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...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!
- Listed by Alexander Sasha Gurevich • eXp Realty BKNY • 1 Space,2 Spaces,3 Spaces,4 Spaces,5 Spaces,6+ Spaces,Detached Garage,Parking Area
Amenities
- Walk Up
- Garage
- Private Outdoor Space
- Parking Included
- Lowrise
- House
Property Details for 2723 West 16th Street
| Status | Active |
|---|---|
| MLS ID | 480297 |
| Days on Market | 290 |
| Taxes | $5,038 / year |
| Maintenance | - |
| Min. Down Pymt | - |
| Total Rooms | 10.0 |
| Compass Type | Townhouse |
| MLS Type | Residential |
| Year Built | 1915 |
| Lot Size | 4,750 SF / 40' x 119' |
| County | Kings County |
Building
2723 W 16th St
Building Information for 2723 West 16th Street
Property Information for 2723 West 16th Street
- Block: 6996
- Cross Street Name: Hart Pl
- Cross Street Name: Neptune Ave
- Zoning: M1-2
- Roof: Other
- Water Front Present YN: No
- Residential Features: A/C Unit - Wall, Refrigerator, Stove
- Number Of Vacant Units: 3
- Parking Attributes: 1 Space, 2 Spaces, 3 Spaces, 4 Spaces, 5 Spaces, 6+ Spaces, Detached Garage, Parking Area
- Parking Feature Single: Private Drive
- Financing: 1031 Exchange, Bank Mortgage, Cash
- Tax Amount: 5038.0
- Gross Expense: 1128.0
- Gross Income: $8,375.00
- Sq Ft Total: 3084
- Yard: Back, Front, Fenced - Full
- Lot Number: 33
- Lot Size Irregular YN: No
- Lot Size Length: 119
- Lot Size Width: 40
- Heat Delivery: Baseboard
- Heating Fuel: Gas
- AC Units: 0
- Hot Water: Gas
- Fuel Expense: 3000.0
- Basement Amenities: Finished, Full
- Baths Three Quarter: 0.0
- Foundation Details: Poured Concrete
- Flooring: Laminate
- Unit Count: 2
- Building Amenities: NONE
- Number Of Available Units: 3
- Construction Materials: Brick, Wood Frame
- Electric: 110 V
- Exterior: Brick Face, Vinyl Siding
- Handicap Access YNU: No
- Building Footprint Sq Ft: 1560.0
- Building Length: 65.0
- Building Type: Detached
- Building Width: 24.0
- Unit Baths Full: 1
- Unit Baths Half: 0.0
- Unit Baths Three Quarter: 0.0
- Unit Baths Total: 1
- Unit Bedrooms Total: 4
- Unit Category: Apt
- Unit Features: Oven/Range, Refrigerator, Water Included
- Unit Floor: 1
- Unit Projected Rent: 2800.0
- Unit Rooms Total: 5
- Unit Status: Vacant
- Unit Unit Type: 4+ Bedrooms
- Unit Baths Full: 2
- Unit Baths Half: 0.0
- Unit Baths Three Quarter: 0.0
- Unit Baths Total: 2
- Unit Bedrooms Total: 3
- Unit Category: Apt
- Unit Features: Appliances Included,Refrigerator,Water Included
- Unit Floor: 2
- Unit Projected Rent: 3000.0
- Unit Rooms Total: 4
- Unit Status: Vacant
- Unit Unit Type: 3 Bedrooms
- Sale Type: Arm's Length
- Insurance Expense: 2500.0
- Owner Occupied: No
Property History for 2723 West 16th Street
| Date | Event & Source | Price | Appreciation | Link |
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| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2723 West 16th Street
Schools near 2723 West 16th Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
P.S. 90 Edna Cohen School PublicPK to 5 | ||
Is 303 Herbert S Eisenberg Public6 to 8 | ||
Liberation Diploma Plus Public9 to 12 | ||
Mark Twain is 239 for the Gifted and Talented Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of eXp Realty BKNY
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