387 Guy Lombardo Ave
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387 Guy Lombardo Ave
5 Unit Block of Flats £767,179 (£153,436/Unit) 7.10% Net Initial Yield Freeport, NY 11520
Investment Highlights
- Legal 5 Family with Below Market Rents
Executive Summary
Excellent opportunity to acquire this Legal 5 family in the Village of Freeport, New York. This waterfront property comfortably sits on 0.36 acres allowing for potential future redevelopment.
The property currently is currently priced at a 7% cap rate when fully occupied and features under market rents within all the residential units with short term leases in place. New ownership can also capitalize on the 100’ feet of docking that currently has no income.
For more information, contact Tom Bigansky, the exclusive broker, directly at 516-343-6964.
The property currently is currently priced at a 7% cap rate when fully occupied and features under market rents within all the residential units with short term leases in place. New ownership can also capitalize on the 100’ feet of docking that currently has no income.
For more information, contact Tom Bigansky, the exclusive broker, directly at 516-343-6964.
Property Facts
| Price | £767,179 | Building Class | C |
| Price Per Unit | £153,436 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 4,773 SF |
| Net Initial Yield | 7.10% | Average Occupancy | 100% |
| No. Units | 5 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1935 |
| Property Subtype | Apartment |
| Price | £767,179 |
| Price Per Unit | £153,436 |
| Sale Type | Investment |
| Net Initial Yield | 7.10% |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 4,773 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 1935 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 1 | - | - |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 2009-62-088-00-0046-0 | Improvements Assessment | £980 |
| Land Assessment | £2,218 | Total Assessment | £3,198 |
PROPERTY TAXES
Parcel Number
2009-62-088-00-0046-0
Land Assessment
£2,218
Improvements Assessment
£980
Total Assessment
£3,198
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387 Guy Lombardo Ave
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