Riverhead, NY 11901

Property

Ownership: For Sale
Type: mixed-use
Lot Size: 0.3 Acres

Financials

Price:$1,500,000
Annual Taxes:$6,831
2415 Montauk Highway PO Box 742, Bridgehampton, NY 11932
Listing Courtesy of H & G Realty New York

Unique investment opportunity in Suffolk County featuring two adjacent lots with a total of three residential rental homes and an established auto repair shop.

Description

Unique investment opportunity in Suffolk County featuring two adjacent lots with a total of three residential rental homes and an established auto repair shop. One parcel includes two homes: a two-story, four bedroom residence and a three bedroom ranch. The second parcel offers a two-story, two bedroom home along with the auto repair facility. All units are currently tenant occupied, with tenants responsible for their own electric and heat, providing ease of management and predictable expenses. The property generates a combined annual rent roll of $127,000.00 with low taxes contributing to an estimated NOI of $108,206.00. This results in an attractive 7.21% cap rate making it a strong income-producing asset with multiple revenue streams. Owner will consider offers for one lot, 94 and 92 or 90 and 90A.

Amenities

  • Electricity Connected
  • Trash Collection Private
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.