2341-2343 Coney Island Avenue, Sheepshead Bay, Brooklyn, NY 11223

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Under construction. Estimated completion work and deliver C of O is beginning of 2019 year. Package deal 2341-2343 Coney Island Ave. Total 2 stores and 4 apartments. Great for owner user or investor or 1031 Exchange. Will be showing 2345 Coney Island Ave as a sample. 1st floor 2000sqft plus basement is commercial unit, 2nd floor is 3 bedrooms plus office ( 4 bedrooms) and 2 full bathroom, terrace. 3rd floor is 3 bedrooms plus office (4 Bedrooms) and 2 full bathroom and balcony. All apartments will be delivered with ready and move in condition, stainless steel appliances; microwave, dishwasher, stove, fridge, washer and dryer hook up. Apartments and store will have separate meters for gas and electricity. Store can be rented for $6000x2=$12000 per month ($72000x2=$144000 per year) including the basement. Apartments can be rented each for $2700x4=$10800 per month ( $32,400x2=$64800 per year). Gross Income projected is $136800x2=$273600 per year. Projected expenses are ; 11000x2=$22000 taxes, $2500x2=$5000 insurance, $3000x2=6000 water and sewer. Projected NOI is $120,300x2+$240,600. Cap rate is 5%.