26 Linden St - Apartments FOR SALE


Great Neck, NY 11021- Thomaston
$3,450,000 USD
347-230-2300
26 Linden St, Great Neck, NY for Sale
$3,450,000 USD
Apartments - FOR SALE
1/15
null | 4.41% Cap Rate

26 Linden St
Great Neck, NY 11021
Thomaston


HIGHLIGHTS

  • FREE-MARKET 5-UNIT MULTIFAMILY — Nassau County asset; no rent control, no rent stabilization; outside NYC's RSL/ETPA framework
  • ASKING $3,450,000 — $690,000 per unit, $677/SF
  • $187,800 GROSS POTENTIAL INCOME — Base rent + parking
  • 100% OCCUPIED, LONG-TENURED — Low-touch, low-vacancy operation; in-place renters with track record
  • NEAR-TERM MARK-TO-MARKET — Apt #5 at $2,400 vs. $3,000 market = +25% reset; 3 of 5 leases roll by 7/31/26
  • PORTFOLIO OPTION — Acquire individually OR with 18-unit Eyssimont portfolio (26 & 28 Linden + 37 & 39 Spruce); NDA required

OVERVIEW

The Thesis. Free-market, fully-leased 5-unit Nassau County multifamily — outside NYC's rent regulation framework, with long-tenured residents in place and a near-term mark-to-market reset on Apt #5. The Numbers. Asking $3,450,000 — $690,000 per unit, $677/SF — against $187,800 in gross potential income (base rent + parking). In-place rents are $3,000/mo per 1BR and $3,500/mo per 2BR (with one below-market 1BR at $2,400/mo); all five parking spots contracted at $50/mo. Annual real estate taxes are $23,772. Full operating financials, leases, and estoppels release under executed NDA. Why The Income Is Durable. Nassau County asset, fully outside NYC's RSL/ETPA framework — no rent control, no rent stabilization, full mark-to-market at every turn. The renter base sits in one of the wealthiest submarkets on Long Island: Great Neck reports a median household income of $152,350 and an average household income of $212,440, with more than 30% of households earning over $200,000 annually. Tenants come for the schools — Great Neck UFSD ranks #6 Best School District in New York (Niche 2026, overall grade A+), with Great Neck South Middle School #11 and E.M. Baker Elementary #16 statewide. The building has been 100% occupied with long-tenured renters in place; ownership has run a low-touch, low-vacancy operation for years. Why There's Upside. Apt #5 is contracted at $2,400/mo (lease expiring 7/31/2026) versus a $3,000/mo market rent — a +25% standalone reset worth approximately $7,200/year. Three of the five leases roll by 7/31/2026; the remaining two on 1/31/2027 — a concentrated near-term reset window. All five onsite parking spots are also contracted to tenants at $50/mo, positioned below the Great Neck submarket clearing rate; additional recoverable revenue at lease turn. The Building. 1943 brick masonry construction, 5,097 SF across two floors, configured as three 1BR / 1BA and two 2BR / 1BA layouts. Each unit was renovated through the prior ownership cycle: new countertops, stainless appliances and dishwashers in the kitchens; new fixtures, vanities and tile work in the baths; original hardwood floors refinished throughout. Off-street parking, in-building basement laundry, and basement storage round out the amenity stack. Tenant-paid electric and tenant-paid gas/heat via separate meters; landlord pays water/sewer only. Location & Access. Village of Thomaston — a supply-constrained pocket of Great Neck where multifamily product rarely trades. Approximately 1 mile to the NYC border, fully in Nassau County: Queens-adjacent renter demand without NYC's landlord-tenant jurisdiction or rent regulation. 0.4 mi walk to Great Neck LIRR — ~30-min express to Penn Station. 1.2 mi to North Shore University Hospital; 1.8 mi to Long Island Jewish Medical Center. Acquisition Note. 26 Linden may be acquired individually or alongside the broader 18-unit Eyssimont Realty portfolio (26 & 28 Linden + 37 & 39 Spruce). Portfolio-level pricing, full financials, current leases, and tenant estoppels release under executed NDA. Tours by appointment only.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$1,035 USD /SF

# OF UNITS

5

PRICE/UNIT

$690,000

CAP RATE

4.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1943

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

R-6

APN/PARCEL ID

2253-02-261-00-0115-0

ASK ABOUT THIS PROPERTY

Rae AroraKELLER WILLIAMS POINTS NORTHMore Info
347-230-2300

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Rae AroraKELLER WILLIAMS POINTS NORTHMore Info
347-230-2300

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