260 Mott Avenue | 260 Mott Ave
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260 Mott Avenue 260 Mott Ave
4 Unit Apartment Building $1,850,000 ($462,500/Unit) 3.68% Cap Rate Lawrence, NY 11559
Investment Highlights
- Potential to build 2 more units on the property.
Executive Summary
Tenants are paying way under market rents. Upside potential is tremendous. Rent roll should be $10,000-$11,000 per month. Buildable lot in front of property .
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$104,700
|
$31.73
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$104,700
|
$31.73
|
| Taxes |
$21,000
|
$6.36
|
| Operating Expenses |
$2,000
|
$0.61
|
| Total Expenses |
$23,000
|
$6.97
|
| Net Operating Income |
$81,700
|
$24.76
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $104,700 |
| Annual Per SF | $31.73 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $104,700 |
| Annual Per SF | $31.73 |
| Taxes | |
|---|---|
| Annual | $21,000 |
| Annual Per SF | $6.36 |
| Operating Expenses | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.61 |
| Total Expenses | |
|---|---|
| Annual | $23,000 |
| Annual Per SF | $6.97 |
| Net Operating Income | |
|---|---|
| Annual | $81,700 |
| Annual Per SF | $24.76 |
Property Facts
| Price | $1,850,000 | Building Class | C |
| Price Per Unit | $462,500 | Lot Size | 0.76 AC |
| Sale Type | Investment | Building Size | 3,300 SF |
| Cap Rate | 3.68% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/1990 |
| Property Subtype | Apartment | Parking Ratio | 4.24/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,850,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 3.68% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 3,300 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/1990 |
| Parking Ratio | 4.24/1,000 SF |
Site Amenities
- Trash Pickup - Curbside
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | - | - |
| 2+1 | 2 | - | - |
1 of 1
Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 2089-40-034-00-0072-0 | Total Assessment | $18 (2024) |
| Land Assessment | $18 (2024) | Annual Taxes | $21,000 ($6.36/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
2089-40-034-00-0072-0
Land Assessment
$18 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$18 (2024)
Annual Taxes
$21,000 ($6.36/SF)
Tax Year
2023
zoning
| Zoning Code | 280 (Zoned 280. Multiple Dwellings on property.) |
| 280 (Zoned 280. Multiple Dwellings on property.) |
-
Lenny Bobrow -
Realty Connect USA
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260 Mott Avenue | 260 Mott Ave
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