Well-Maintained, Turnkey Multifamily Asset — Attractive 7-unit brick walk-up built in 1924, comprising 6,279 SF across three stories plus a full basement on a 0.11-acre lot. Pride-of-ownership property with a covered porch, private balconies, and ancillary income from garage parking and tenant storage.
Significant Embedded Rent Upside — All seven units are currently leased at preferential rents well below their legal registered amounts, creating a substantial and contractually documented path to increased cash flow. As preferentials burn off at lease expiration, an incoming owner can capture meaningful NOI growth without renovation risk, capital outlay, or reliance on market rent growth.
Compelling Basis in a Supply-Constrained Nassau Market — Priced at $1,150,000, or roughly $164,000 per unit and $183 per square foot, well below replacement cost in one of Long Island's most tightly held rental submarkets, where new multifamily construction is virtually nonexistent.
Steps to the LIRR — Located within immediate proximity to the Floral Park LIRR station, offering a sub-35-minute commute to Penn Station and Grand Central Madison. Situated along the Jericho Turnpike retail corridor with Stop & Shop, HomeGoods, Five Below, Panera, CVS, TD Bank, and Applebee's, and two miles from Belmont Park and UBS Arena, home of the New York Islanders.
Robust Demographics and Best-in-Class Schools — 41,022 residents within one mile and 303,526 within three miles, supported by an average household income of $162,542 within one mile — well above the national average. The property sits within the highly regarded Sewanhaka Central High School District, a key driver of long-term tenant retention.