1612 Coney Island Ave, Brooklyn, NY 11230

**Rare Investment Opportunity in Vibrant Midwood, Brooklyn**

**Rare Investment Opportunity in Vibrant Midwood, Brooklyn** Discover an exceptional mixed-use building in the heart of Midwood, Brooklyn, with this rare offering. Meticulously maintained and poised for a new chapter, this property presents a turnkey opportunity for astute investors or owner-users. Being Delivered Fully Vacant. **Key Features:** - **Prime Location:** Nestled on bustling Coney Island Avenue, this property enjoys a high-visibility location, ensuring a steady flow of foot traffic and exposure. - **Versatile Space:** The first floor boasts a recently renovated, vacant retail space spanning 1,300 square feet, complemented by an inviting 700 square foot backyard-an ideal canvas for a wide range of businesses. - **Residential Comfort:** The second floor comprises two well-appointed residential apartments. A spacious two-bedroom unit that can start generating $2,696 monthly, and a cozy one-bedroom unit the may start generating $2,387 monthly, offering comfortable living options.(Using CityFHEPS Standards for apartments) - **Expansion Potential:** An unfinished basement, accessible both externally and through the retail space, provides ample storage or expansion potential. - **Air Rights:** The property also includes an additional 1,400 square feet of valuable air rights, offering exciting development possibilities. Would need to consult with an architect. **Projected Income and Expenses:** - **Income Potential:** Anticipate a total projected income of $120,996 annually, including $60,000 from the retail space, $32,352 from the two-bedroom apartment, and $28,644 from the one-bedroom apartment.(Using CityFHEPS Standards for apartments) - **Expenses:** Operating costs are well-managed, with expenses totaling $14,867 annually, covering fuel, electric, water, insurance, and taxes. - **Solid Returns:** The property generates a healthy net income of $106,129, resulting in an impressive projected cap rate of 6.39%.Which is better than bank offerings. - **Location Advantages:** Midwood is a thriving, financially robust neighborhood, offering excellent prospects for growth and investment. Moreover, the property is conveniently situated within walking distance of the B/Q/F trains, ensuring easy access to transportation options. Don't miss this unique opportunity to own a prime property in the heart of Midwood. For further details and to explore the potential of this exceptional investment, reach out to the to listing Broker Dayan This property represents more than just a real estate transaction; it's an opportunity to be part of a dynamic and prosperous community in one of Brooklyn's most sought-after neighborhoods.