Turnkey Four-Family Residential
3129 Coney Island Avenue Brooklyn, NY 11235
New
3129 Coney Island Avenue, Brooklyn, NY, 11235
$2,200,000
For Sale
$2,200,000
MULTI_FAMILY - Brooklyn, NY
Property Size2,160 SF
Lot Size0.03 Acres
Price / SF$1,018
Days on Market7
Property Features for 3129 Coney Island Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1
- Patio and Porch features
- Patio
- Interior features
- Dishwasher, Patio Garden, Stove, Washer
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 2,160 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12708
Building Details
- Year built
- 1932
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Hardwood
- Building materials
- Brick
- Roof type
- Shingle, Flat
Listing Agency
Keller Williams Realty Empire
(718) 954-8400
8508 3rd Ave, Brooklyn, NY
Listed by
Soranlly Adames-Lopez
(917) 836-1050
Added: Jul 10 Checked: Jul 16 at 11:06 pm
MLS# 502927
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 legal four-family residential building has been fully renovated and brought up to code, designed for turnkey ownership. The property contains four well-maintained units: one two-bedroom apartment, two one-bedroom apartments, and one studio apartment. The current month-to-month tenants and the completed major systems may support immediate move-forward operations with limited additional capital needs.
Located in Brooklyn, the address is 3129 Coney Island Avenue, Brooklyn, NY 11235. Showings are by appointment only, and all prospective buyers must provide a mortgage pre-approval letter or proof of funds prior to scheduling a viewing.
The building’s unit mix provides flexibility for both investors and owner-occupants, with options to take delivery with tenants in place or vacant depending on buyer preference.
Located in Brooklyn, the address is 3129 Coney Island Avenue, Brooklyn, NY 11235. Showings are by appointment only, and all prospective buyers must provide a mortgage pre-approval letter or proof of funds prior to scheduling a viewing.
The building’s unit mix provides flexibility for both investors and owner-occupants, with options to take delivery with tenants in place or vacant depending on buyer preference.
Key Highlights
- Legal four‑family building with one 2‑bedroom unit, two 1‑bedroom units, and one studio
- Fully renovated and brought up to code, with major systems and renovations completed
- Tenants are on month‑to‑month leases; rents are below current market value (per listing remarks)
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
NOI $75,647 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully renovated legal four-family with a mix of two-bedroom, two one-bedroom, and studio units.
Where is this quadplex located?
The property is located at 3129 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Legal four‑family building with one 2‑bedroom unit, two 1‑bedroom units, and one studio; Fully renovated and brought up to code, with major systems and renovations completed; Tenants are on month‑to‑month leases; rents are below current market value (per listing remarks)
