|*Call Joe now to view (718)208-7011 *
The subject property is a building with 2 two bdrm apartments and 10 SRO units. Many units have been renovated. The building is completely legal and features 12 kitchens and 5 baths. Are you tired of seeing nothing but 5 caps on loopnet, then this property ma be for you as it has a real cap rate of 11.7%. All tenants have been strictly vetted by the landlord and are on month to month tenancy. All tenants are fully paid up to date. Taxes are only 4500k/year! The building is 3,456 sqft , 3 stories high. Only asking $217/sqft
Located steps the boardwalk , this is a great opportunity to get into Rockaway Beach before the prices explode. New condos in the area are selling for $500/sqft or more.
Scheduled Gross Income$109,500
Effective Gross Income$109,500
Net Operating Income$88,250