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70 Park Ave - 70 Park Ave - 1636/1636A Union Blvd Bay Shore 4 Unit Apartment Building Offered at $1,900,000 Bay Shore, NY 11706
EXECUTIVE SUMMARY
This offering features three structures on one deeded lot in the heart of Bay Shore’s Business District with 4 Rental Units. 70 Park Ave is a Commercial building that has a current CO allowing the first floor apartment to be used as a Personal Service business and residence, and the second floor as a separate apartment. The current owner is using both floors as a one family residence with a Personal Service business. Prior CO on property was 1st Floor restuarant & 2nd Floor apartment. Various options are available based on zoning for this space. There is also a detached two-car garage, and an additional building at 1636/1636A Union Blvd, CO’d as a legal two-family dwelling. Delivered vacant, the property presents a rare opportunity to reposition multiple units at once, resolve outstanding violations, and capitalize on strong rental demand for studios, one bedroom, and two bedroom apartments in the area along with retail, office & businesses. With flexible layouts, on-site parking, and significant upside through renovation and potential expansion, this asset is well-suited for investors seeking value-add potential and long-term income growth.
FINANCIAL SUMMARY (PRO FORMA - 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 (PRO FORMA - 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
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 6+5 | 4 | - | - |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 0500-393-00-02-00-138-001 | Total Assessment | $50,000 (2024) |
| Land Assessment | $7,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $42,200 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
0500-393-00-02-00-138-001
Land Assessment
$7,800 (2024)
Improvements Assessment
$42,200 (2024)
Total Assessment
$50,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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70 Park Ave - 70 Park Ave - 1636/1636A Union Blvd Bay Shore
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