Long Beach Garden Apartments | 421 E Broadway
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Long Beach Garden Apartments 421 E Broadway
26 Unit Apartment Building $5,200,000 ($200,000/Unit) 6.44% Cap Rate Long Beach, NY 11561
Investment Highlights
- 25 Units: 20 Studios, 4 1BRs, 1 2BR
- Established Apartment Community with Significant Upside
- No Rent Stabilization Requirements
- Prime Location proximate to LB Boardwalk & Major Developments
Executive Summary
Steps from the iconic Long Beach Boardwalk, East Broadway Gardens is a rare investment opportunity in one of Long Island’s most sought-after coastal markets.
Property Facts
| Price | $5,200,000 | Apartment Style | Garden |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.44% | Building Size | 13,986 SF |
| No. Units | 26 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1951 |
| Price | $5,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 13,986 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1951 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | 544 |
| 1+1 | 4 | - | 708 |
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PROPERTY TAXES
| Parcel Number | 1000-59-159-00-0051-0 | Improvements Assessment | $23,816 |
| Land Assessment | $3,385 | Total Assessment | $27,201 |
PROPERTY TAXES
Parcel Number
1000-59-159-00-0051-0
Land Assessment
$3,385
Improvements Assessment
$23,816
Total Assessment
$27,201
zoning
| Zoning Code | Residence J (Residential District) |
| Residence J (Residential District) |
Contacts
-
Daniel Abbondandolo -
Joegy Raju -
Victor Little -
Alex Klausner -
Cushman & Wakefield
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Long Beach Garden Apartments | 421 E Broadway
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