New York, NY 10462

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 5 BR
Bathrooms: 3

Financials

Price:$1,150,000
Annual Taxes:$6,493
505 Park Ave, New York, NY 10022
Listing Courtesy of Cordial Realty Group Inc

2034 Colden Avenue Newly Renovated Multi Family Owner Occupant or Investment Opportunity Exceptional opportunity to own a fully renovated three apartment property just one block from the train station.

Description

2034 Colden Avenue – Newly Renovated Multi-Family | Owner-Occupant or Investment Opportunity Exceptional opportunity to own a fully renovated three-apartment property just one block from the train station. Ideal for an owner-occupant seeking rental income from the other residences or an investor seeking a renovated income-producing property. The property features hardwood floors, energy-efficient split heating and cooling systems, stainless steel appliances including dishwashers, and a stackable washer and dryer in every unit. The upper residences offer comfortable layouts, walk-in closets and one full bathroom in each unit. The first-floor residence features step-free, walk-in access and a yard. Residents are responsible for their individual utilities, including water usage. Cold water is separately submetered, allowing usage to be allocated to each residence and helping keep owner-paid operating expenses low. At the $1,150,000 asking price, the full-property rental pro forma projects monthly rents of $3,200 for the first floor and $3,000 for each upper apartment, totaling $9,200 per month or $110,400 annually. Listed annual operating expenses total approximately $10,341, including property taxes, estimated insurance, common electricity and submetering service fees. This results in projected net operating income of approximately $100,059 and a projected cap rate of 8.70%. With its renovated condition, in-unit laundry, individual climate control and convenient transportation access, 2034 Colden Avenue offers flexibility to live in one residence while collecting rent from the others or rent all three apartments as an investment.

Amenities

  • Electricity Connected
  • First Floor Bedroom
  • First Floor Full Bath

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.