26 Linden St 5 Unit Apartment Building $3,450,000 ($690,000/Unit) 4.41% Cap Rate Great Neck, NY 11021

The Thesis.
Free-market, fully-leased 5-unit Nassau County multifamily — outside NYC's rent regulation framework, with long-tenured residents in place and a near-term mark-to-market reset on Apt #5.
The Numbers.
Asking $3,450,000 — $690,000 per unit, $677/SF — against $187,800 in gross potential income (base rent + parking). In-place rents are $3,000/mo per 1BR and $3,500/mo per 2BR (with one below-market 1BR at $2,400/mo); all five parking spots contracted at $50/mo. Annual real estate taxes are $23,772. Full operating financials, leases, and estoppels release under executed NDA.
Why The Income Is Durable.
Nassau County asset, fully outside NYC's RSL/ETPA framework — no rent control, no rent stabilization, full mark-to-market at every turn. The renter base sits in one of the wealthiest submarkets on Long Island: Great Neck reports a median household income of $152,350 and an average household income of $212,440, with more than 30% of households earning over $200,000 annually. Tenants come for the schools — Great Neck UFSD ranks #6 Best School District in New York (Niche 2026, overall grade A+), with Great Neck South Middle School #11 and E.M. Baker Elementary #16 statewide. The building has been 100% occupied with long-tenured renters in place; ownership has run a low-touch, low-vacancy operation for years.
Why There's Upside.
Apt #5 is contracted at $2,400/mo (lease expiring 7/31/2026) versus a $3,000/mo market rent — a +25% standalone reset worth approximately $7,200/year. Three of the five leases roll by 7/31/2026; the remaining two on 1/31/2027 — a concentrated near-term reset window. All five onsite parking spots are also contracted to tenants at $50/mo, positioned below the Great Neck submarket clearing rate; additional recoverable revenue at lease turn.
The Building.
1943 brick masonry construction, 5,097 SF across two floors, configured as three 1BR / 1BA and two 2BR / 1BA layouts. Each unit was renovated through the prior ownership cycle: new countertops, stainless appliances and dishwashers in the kitchens; new fixtures, vanities and tile work in the baths; original hardwood floors refinished throughout. Off-street parking, in-building basement laundry, and basement storage round out the amenity stack. Tenant-paid electric and tenant-paid gas/heat via separate meters; landlord pays water/sewer only.
Location & Access.
Village of Thomaston — a supply-constrained pocket of Great Neck where multifamily product rarely trades. Approximately 1 mile to the NYC border, fully in Nassau County: Queens-adjacent renter demand without NYC's landlord-tenant jurisdiction or rent regulation. 0.4 mi walk to Great Neck LIRR — ~30-min express to Penn Station. 1.2 mi to North Shore University Hospital; 1.8 mi to Long Island Jewish Medical Center.
Acquisition Note.
26 Linden may be acquired individually or alongside the broader 18-unit Eyssimont Realty portfolio (26 & 28 Linden + 37 & 39 Spruce). Portfolio-level pricing, full financials, current leases, and tenant estoppels release under executed NDA. Tours by appointment only.