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688 Merrick Rd 4 Unit Apartment Building $1,350,000 ($337,500/Unit) 5.70% Cap Rate Baldwin, NY 11510
Investment Highlights
- Four Free-Market Two-Bedroom Townhomes
- Established Merrick Road Location in Nassau County
- Two Parking Spaces Per Unit
Executive Summary
As exclusive agent, Cushman & Wakefield is pleased to offer for sale 688 Merrick Road, a rare free-market townhome rental asset located in Baldwin, New York.
The Property consists of four two-bedroom, one-and-a-half-bath townhomes totaling approximately 5,572 square feet above grade, with approximately eight surface parking spaces. Built in 1988, the asset offers a differentiated residential format relative to conventional small multifamily properties, providing tenants with larger townhouse-style layouts, private residential character, and convenient on-site parking.
688 Merrick Road is positioned along the Merrick Road corridor in Baldwin, an established Nassau County South Shore community with access to nearby retail, services, schools, parks, and regional transportation. The Property benefits from a recognizable location within a mature residential submarket supported by consistent demand for well-located rental housing.
The Property consists of four two-bedroom, one-and-a-half-bath townhomes totaling approximately 5,572 square feet above grade, with approximately eight surface parking spaces. Built in 1988, the asset offers a differentiated residential format relative to conventional small multifamily properties, providing tenants with larger townhouse-style layouts, private residential character, and convenient on-site parking.
688 Merrick Road is positioned along the Merrick Road corridor in Baldwin, an established Nassau County South Shore community with access to nearby retail, services, schools, parks, and regional transportation. The Property benefits from a recognizable location within a mature residential submarket supported by consistent demand for well-located rental housing.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $1,350,000 | Building Class | B |
| Price Per Unit | $337,500 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 5,572 SF |
| Cap Rate | 5.70% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1988 |
| Property Subtype | Apartment | Parking Ratio | 1.44/1,000 SF |
| Zoning | Residence CA Zone - CA Residence District regulated by the Town of Hempstead Building Zone Ordinance | ||
| Price | $1,350,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 5,572 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1988 |
| Parking Ratio | 1.44/1,000 SF |
| Zoning | Residence CA Zone - CA Residence District regulated by the Town of Hempstead Building Zone Ordinance |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 2 | - | 1,386 - 1,395 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
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-
Daniel Abbondandolo -
Joegy Raju -
Victor Little -
Lincoln Cioffi -
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