4725 Beach 47Th St Brooklyn, NY 11224

Property Details for 4725 Beach 47Th St

Property size

3,220 SF

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents a two-story, 13-unit apartment building situated on a substantial 8,644 square foot lot in the desirable Seagate neighborhood of Brooklyn, New York. The property, known as The Beacon Inn, boasts beautifully renovated units and is located within a gated community, offering residents a secure and tranquil environment. The building features approximately 3,220 square feet of living space, spread across two stories. The expansive lot provides ample outdoor space, including upper and lower level areas, and a large yard with parking for six or more vehicles. The property enjoys a strong financial performance, generating a healthy monthly cash flow ranging from $22,000 to $35,000, translating to an approximate annual net operating income of $211,000. Its prime location offers easy access to the beach and boardwalk, just blocks away, and the vibrant attractions of Coney Island Park and Surf Avenue are also within close proximity. The property is zoned R3-1 and is currently free of encumbering leases. This turnkey investment asset presents a rare opportunity to acquire a well-maintained, high-performing property in a rapidly developing and highly sought-after area, offering significant income potential and spectacular views. The asking price is $2,750,000.