11-15 Whitney Ave - Apartments FOR SALE


Floral Park, NY 11001
$1,150,000 USD
212-430-5196
11-15 Whitney Ave, Floral Park, NY for Sale
$1,150,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

11-15 Whitney Ave
Floral Park, NY 11001


HIGHLIGHTS

  • Well-Maintained, Turnkey Multifamily Asset — Attractive 7-unit brick walk-up built in 1924, comprising 6,279 SF across three stories.
  • Significant Embedded Rent Upside — All seven units are currently leased at preferential rents well below their legal registered amounts.
  • Steps to the LIRR — Located within immediate proximity to the Floral Park LIRR station.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

7

PRICE/UNIT

$164,286

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,998 SF

ZONING

-

APN/PARCEL ID

2259-08-057-00-0045-0

ASK ABOUT THIS PROPERTY

Michael TuccilloThe Tuccillo Group of Marcus & MillichapMore Info
212-430-5196

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Michael TuccilloThe Tuccillo Group of Marcus & MillichapMore Info
212-430-5196

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.