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Mineola203 Willis Ave 15 Unit Apartment Building$3,500,000 ($233,333/Unit)5.31% View Watchlist >

203 Willis Ave 15 Unit Apartment Building$3,500,000 ($233,333/Unit)5.31%

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58 Days, 09:30:13
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$3,000,000.00
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Minimum Bid $3,000,000.00
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Notice : ( 4%Buyer Broker's fee) include in the sale .


Item # 418901

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Description

Investment Highlights

  • Rent Stabilized Building
  •  
  • .6 Miles to the Mineola LIRR
  •  
  • 2 Miles to LIJ Medical Center
  • 15 Residential Units
  •  
  • .6 Miles to NYU Langone
  •  
  • Two Year Old Roof

Executive Summary

Expand your portfolio with this 15 unit multifamily apartment building, located on Willis Avenue in the heart of Mineola. This 3 story building was built in 1931 and boasts its unique charm throughout every facet of both the interior and exterior. With close proximity to schools, hospitals, public transit and municipal parking, this building showcases convenience for tenants and guests. Hosting 15 units, this building is fully occupied and is well kept with a ground floor common area and a garden area in the rear of the building. Roof is approximately 2 years old, windows are about 5-6 years old and all units are separately metered for gas and electric.

Attachments

203 Willis Avenue 

Property Facts

Price $3,500,000
Price Per Unit $233,333
Sale Type Investment
Cap Rate 5.31%
No. Units 15
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class B
Lot Size 0.12 AC
Building Size 14,250 SF
Average Occupancy 100%
No. Stories 3
Year Built 1931

Amenities

Unit Amenities

  • Kitchen
  • Hardwood Floors
  • Oven
  • Freezer
  • Garden
  • Large Bedrooms

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 15 - 650 - 800
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