Village Lofts Apartments 479 Front St 29 Unit Apartment Building $10,000,000 ($344,828/Unit) 6% Cap Rate Hempstead, NY 11550
INVESTMENT HIGHLIGHTS
- 2014 Construction
- Upside to increase revenue on rent and parking lot
- Close to several universities
EXECUTIVE SUMMARY
Would you buy a 6 CAP with a 70 LTV assumable 30 year mortgage at 2.12%, fully amortized?
PROPERTY FACTS
| Price | $10,000,000 |
| Price Per Unit | $344,828 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 13 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.89 AC |
| Building Size | 33,263 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2014 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | Residence B |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Island Kitchen
- Pantry
- Recreation Room
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Laundry Facilities
- Storage Space
- Bicycle Storage
- Elevator
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | - | 810 |
| 2+2 | 8 | - | 1,035 |
| 3+2 | 2 | - | 1,350 |
1 of 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 2013-34-404-00-0022-0 | Improvements Assessment | $20,751 |
| Land Assessment | $7,672 | Total Assessment | $28,423 |
