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    Two-Family Home in Coney Island

    2717 W 16th Street Brooklyn, NY 11224

    2717 W 16th Street, Brooklyn, NY, 11224
    $980,000
    For Sale
    Claim this Listing
    $980,000

    MULTI_FAMILY - Brooklyn, NY

    Property Size2,160 SF
    Lot Size0.05 Acres
    Price / SF$453.70
    AddedMay 29
    Days on Market48
    Last RefreshJul 15 at 7:06 am

    Property Features for 2717 W 16th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    M1-2
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1
    Interior features
    Laundry Area, Refrigerator, Stove
    Basement
    Full, Finished
    Standard status
    Active
    Size
    2,160 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3327

    Building Details

    Year built
    1915
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Wood Frame
    Roof type
    Flat

    Listing agent Ping Chen

    Listing office RE/MAX Edge 1812 Bath Ave, Brooklyn, NY

    Listing date May 29, 2026

    MLS# 501839 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This semi-attached two-family home is located in Coney Island, Brooklyn, on a 20' x 118' lot. The property features a 2-bedroom over 2-bedroom layout, with each unit including a living room, dining room, kitchen, and one full bathroom. The property is suitable for end-users looking to customize a home or investors seeking a value-add opportunity. The full basement, accessible through a separate front entrance, includes a storage area and a 3/4 bathroom. The property is located near shopping centers, supermarkets, restaurants, schools, parks, and neighborhood amenities. Transportation options include access to the D, F, N, and Q subway lines, multiple bus routes, and major roadways. The Coney Island Boardwalk, beach, Luna Park, New York Aquarium, and Caesar's Bay Shopping Center are nearby. The property, with M1-2 zoning, offers 2160 square feet of space on a 0.0545-acre lot. The property will be delivered vacant at closing.

    Key Highlights

    • Two‑family home delivered vacant, offering immediate occupancy or rental income potential.
    • Prime Coney Island location near the Boardwalk, beach, Luna Park, and New York Aquarium.
    • Convenient access to D, F, N, and Q subway lines, multiple bus routes, and major roadways.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $110.2k $51.00
    − Vacancy −$2.1k −$0.97
    EGI $108.1k $50.03
    − OpEx −$32.4k −$15.01
    NOI $75.6k $35.02
    2,160 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $1.08M
    $945.6K – $1.26M (±1% cap)
    NOI $75,647 @ 7.0% cap · market cap 7.72%
    Second Best
    Apartment 5plus
    $942.0K
    $824.3K – $1.10M (±1% cap)
    NOI $65,943 @ 7.0% cap · market cap 6.73%
    Theoretical Best
    Specialty Retail
    $1.79M
    $1.56M – $2.09M (±1% cap)
    NOI $125,194 @ 7.0% cap · market cap 12.77%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Hair Salon Building Supply Accounting Firm Dental Office Nail Salon Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Semi-attached two-family home near Coney Island Boardwalk.
    Where is this duplex located?
    The property is located at 2717 W 16th Street Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $980,000.
    What are key features of this property?
    This property features: Two‑family home **delivered vacant**, offering immediate occupancy or rental income potential.; **Prime Coney Island location** near the Boardwalk, beach, Luna Park, and New York Aquarium.; Convenient access to D, F, N, and Q subway lines, multiple bus routes, and major roadways.
    Contact an agent
    (718) 612-3088
    We can help!
    Contact an agent
    Ping Chen
    Ping Chen
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