2828 West 19th Street

Verada, as exclusive agent, is pleased to offer for sale 2828 West 19th Street, a four-family walk-up in Coney Island, Brooklyn.The property consists of four free-market two-bedroom apartments totaling approximately 3,000 SF. Tenants pay their own unit utilities, generating $102,000 in annual gross scheduled income.Estimated NOI is $78,253 after real estate taxes, water/sewer, insurance, and maintenance and management reserves. The $1,200,000 ask equals a 6.52% in-place cap rate and $400/SF, within the range of five recent Coney Island-area multifamily sales.None of the four units are rent stabilized, giving a buyer both stabilized in-place income and turnover upside over time.