28 Brooklyn Ave.

Valley Stream, NY 11581

Property price:
$799,915
Property features:
    Property description:

    KW Commercial Property For Sale. Price Reduction! Motivated seller will consider reasonable offers. Great investment property. 5,138 s/f +/-. Fully occupied with good tenants on annual leases. Lowest priced five (5) unit multi-family building in the metropolitan area. Walk to all transportation, schools, shopping and restaurants. Completely renovated in 2005.  Low maintenance costs. Separate meters and boilers. Tenants pay heat, electric and gas. Cap rate 6.37%. Pro forma cash on cash return 7.00%.  Great up-side potential! Current rent role is below market area and well positioned for escalation increasing the operating income. Basement build out to coin pay laundry facility is possible further increasing the building operating income. Open market rents. A tax grievance and writ of certiorari is pending. Taxes currently $8.54 per building s/f. Valley Stream was recently ranked by Money Magazine as the #1 village in New York State. Serious inquiries only please. All interested parties must be qualified and provide a mortgage pre-approval or proof of funds. A CPA letter is acceptable. Call or text Rick 516-978-8023. E-mail: rickcarello@gmail.com.

    Additional Information:
    Net Operating Income: $50,941.00 Capitalization Rate: 6.37%. Pro forma Cash on Cash Return is 7.00%. Motivated Seller. Bring Reasonable Offers!
    Property location:
    Property price:
    $799,915
    Presented by:
    Rick D. Carello
    • Mobile: 516-978-8023
    • Office: 516-978-8023
    • Fax:
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    • Listing Date: 03/20/2019
    • Updated Date: 03/20/2019
    • Lot Size: 4,000 Sqft
    • Building Size: 5,138 Sqft
    • Available Space: 5,138 Sqft

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