$998,888 / 7br - 3480ft2 - Multi-Family Building for Investors (Coney Island, Brighton Beach)

Attention investors! Location: West 15th St @ Neptune Ave.
Lot size: 20 x 119 Ft.
Building size: 20 x 58 Ft.
The multifamily house has 2 studios and 5 one bedroom apartments.
All apartments were rented a long time ago for $600 - $1200 a month (NO RENT CONTROL, NO RENT STABILIZED, NO LEASES) and the house has great potential for increasing income.
New on the market Investment opportunity is located in the highly sought-after neighborhood of Coney Island.
This Five Families attached brick house has six bedrooms and a studio in basement.
Gross income of $84,000 - Annual expenses of $26,961 - Net CAP Rate approximately of 6%.
There are NO rent-controlled or rent-stabilized apartments in the building.
All apartments are rented long time ago and the rents have never increased.
Tenants regularly pay rent month to month.
The house has a big potential to increase the income.
This property is located in a special zone district of Coney Island, zoned M1-2.
The property is centrally located in the central hub of development zone, located just 2 blocks from MCU Park, mass, transit, area beaches, iconic boardwalk and amusement Luna Park, and just off the Belt Parkway.
Drive by only.
On the pictures is current condition of the property.
The house sold As Is condition.
No mortgage contingency.
The all apartments will be shown only before signing the contract.