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28 Linden St 4 Unit Apartment Building $2,950,000 ($737,500/Unit) 4.44% Cap Rate Great Neck, NY 11021
Investment Highlights
- Turnkey 4-unit brick multifamily - fully occupied with balanced 1BR and 2BR mix
- Individually metered utilities - tenants pay electric and water, keeping operating costs low
- Great Neck Public Schools (ranked #1 in NY) and walkable to North Shore University Hospital
- Updated kitchens and baths with quartz countertops, stainless steel appliances, and hardwood floors
- Minutes from Great Neck LIRR - 30-minute express commute to Midtown Manhattan
- Portfolio acquisition opportunity - purchase standalone or bundle with adjacent Great Neck multifamily holdings
Executive Summary
Exceptional 4-unit multifamily investment at 28 Linden St, Great Neck NY - a fully occupied, turnkey brick property in one of Long Island's most desirable villages. The asset features a balanced unit mix of two 1-bedroom and two 2-bedroom apartments, all with updated kitchens and baths, individually metered utilities, and tenant-paid expenses keeping operating costs lean. Situated minutes from the Great Neck LIRR (30-minute express to Midtown Manhattan), the #1-ranked Great Neck Public Schools, and North Shore University Hospital, the property offers durable tenant demand and long-term rent growth. Current below-market rents provide meaningful upside, and the building may be purchased standalone or bundled with adjacent Great Neck multifamily holdings for portfolio scale. A rare low-maintenance, high-demand asset in a supply-constrained submarket.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,950,000 | Apartment Style | Garden |
| Price Per Unit | $737,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.44% | Building Size | 5,097 SF |
| Gross Rent Multiplier | 18.91 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1943 |
| Property Subtype | Apartment | ||
| Zoning | R-3 - R-3 Multifamily Residential | ||
| Price | $2,950,000 |
| Price Per Unit | $737,500 |
| Sale Type | Investment |
| Cap Rate | 4.44% |
| Gross Rent Multiplier | 18.91 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,097 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1943 |
| Zoning | R-3 - R-3 Multifamily Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Yard
- Basement
- Garden
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $3,000 | - |
| 2+1 | 2 | $3,500 | - |
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 2253-02-261-00-0114-0 | Total Assessment | $3,667 |
| Land Assessment | $1,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,167 | Tax Year | 2025 |
Property Taxes
Parcel Number
2253-02-261-00-0114-0
Land Assessment
$1,500
Improvements Assessment
$2,167
Total Assessment
$3,667
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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28 Linden St
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