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38-24 213th St 22 Unit Apartment Building $5,000,000 ($227,273/Unit) 5.50% Cap Rate Bayside, NY 11361
Investment Highlights
- Incredible multi-family opportunity in the upscale community of Bayside Village
- 100% occupancy; steady income for years to come!
- 1 block to LIRR Bayside Station; 22 minutes to Penn Station
Executive Summary
Extraordinary multi-family investment opportunity in the much sought-after, upscale community of Bayside Village. This multi-family, brick, detached building features 22 apartments—15 one-bedroom and 6 two-bedroom units—with a gross annual income of over $448,000. 100% Occupied! This well-maintained, rent-stabilized building offers 21,753 square feet of floor area, a live-in super, and a huge basement that can be utilized for a laundry room and multiple storage spaces. Generates Stable Monthly Income!
A commuter's dream, located just one block from the Bayside train station. Your tenants will also enjoy the convenience of shopping on Bell Boulevard and at the Bay Terrace Shopping Mall. North Bayside is a vibrant, highly-sought after and up-scale community!
A commuter's dream, located just one block from the Bayside train station. Your tenants will also enjoy the convenience of shopping on Bell Boulevard and at the Bay Terrace Shopping Mall. North Bayside is a vibrant, highly-sought after and up-scale community!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$448,212
|
$19.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$448,212
|
$19.02
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$182,090
|
$7.73
|
| Net Operating Income |
$266,122
|
$11.29
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $448,212 |
| Annual Per SF | $19.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $448,212 |
| Annual Per SF | $19.02 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $182,090 |
| Annual Per SF | $7.73 |
| Net Operating Income | |
|---|---|
| Annual | $266,122 |
| Annual Per SF | $11.29 |
Property Facts
| Price | $5,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $227,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 5.50% | Building Size | 23,562 SF |
| No. Units | 22 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1940 |
| Zoning | R4 | ||
| Price | $5,000,000 |
| Price Per Unit | $227,273 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 23,562 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1940 |
| Zoning | R4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Property Taxes
| Parcel Number | 06233-0034 | Improvements Assessment | $800,820 (2025) |
| Land Assessment | $165,600 (2025) | Total Assessment | $966,420 (2025) |
Property Taxes
Parcel Number
06233-0034
Land Assessment
$165,600 (2025)
Improvements Assessment
$800,820 (2025)
Total Assessment
$966,420 (2025)
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Bayside Village Realty
38-24 213th St
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