6703 Myrtle Ave - Multi-Family FOR SALE


Glendale, NY 11385
$1,425,000 USD
718-894-8700
6703 Myrtle Ave, Glendale, NY for Sale
$1,425,000 USD
Multi-Family - FOR SALE
1/24
null | 3.56% Cap Rate

6703 Myrtle Ave
Glendale, NY 11385


HIGHLIGHTS

  • MIXED USE
  • COMMERCIAL TENANT HAS LEASE UNTIL 12/31/28 & PAYS THE PLP ELECTRIC EXPENSES ALSO
  • GREAT LOCATION, NEAR ALL

OVERVIEW

MIXED USE Fantastic investment opportunity! This large brick mixed-use building offers a prime commercial and residential setup. The 1st floor features an operating 99 cent store, providing stable rental income paying $2,500 per month with a lease in place until 12/31/28. The 1st floor tenant is responsible for paying the electricity costs for both their individual commercial space and the common area usage. The 2nd & 3rd floors each house spacious 3-bedroom apartments with identical layouts, including an EIK, DR, LR, and 1 full bathroom and they each pay $1,700 per month with no lease. Additional highlights include a full basement and private yard. With just a bit of updating and TLC, this property can reach its full potential. Perfect for investors or owner-occupants looking to generate rental income. Approx. Annual Taxes: $9,027 Approx. Annual Operating Expenses: $20,081 Approx. Annual NOI: $50,719

FOR SALE DETAILS

PRICE

$1,425,000 USD

PRICE/SF

$396 USD /SF

# OF UNITS

3

PRICE/UNIT

$475,000

CAP RATE

3.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R5D, R5B, C2-3

APN/PARCEL ID

03680-0045

ASK ABOUT THIS PROPERTY

Salvatore CrifasiCrifasi Commercial Real EstateMore Info
718-894-8700

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Salvatore CrifasiCrifasi Commercial Real EstateMore Info
718-894-8700

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