For Sale
$2,200,000

433 Atlantic Ave Oceanside, NY 11572

Four-unit apartment building, high upside potential.

Overview

Added:
Dec 11, 2024
Days on market:
132
This four-unit apartment building at 433 Atlantic Avenue, Oceanside, NY 11572, presents a compelling value-add investment opportunity. Currently generating a net operating income (NOI) of $118,000 and a 5.36% capitalization rate, the property offers significant upside potential. A pro-forma NOI of $158,800 and a pro-forma cap rate of 7.22% are projected, reflecting the opportunity to increase rental income by aligning current rents with market rates. Located in the vibrant community of Oceanside, this property benefits from its proximity to numerous retail establishments, including Stop & Shop, PC Richards, and Dunkin', as well as the Woodcrest Luxury Apartments. Its convenient location, a short walk from the Oceanside Long Island Rail Road station, enhances its appeal to commuters and tenants. The asking price for this multifamily property is $2,200,000. This Nassau County investment presents a strong chance for substantial returns through rental increases. The property's current below-market rents provide a clear path to improved profitability.

Highlights

  • Significant upside potential due to below-market rents, offering a strong value-add opportunity.
  • High-traffic location ensures consistent foot traffic and strong visibility for your business.
  • The property boasts a flexible floor plan easily adaptable to various business needs.
  • Ample on-site parking provides convenient access for employees and customers.
  • The property benefits from a strong tenant roster with long-term leases.

Property Details for 433 Atlantic Ave

Property type
Apartment buildings
Units
4

Location Insight

City
Oceanside
County
Nassau
State
New York
Latitude
40.640555965593
Longitude
-73.651726774885

FAQs

What type of property is this?
Apartment building - Four-unit apartment building, high upside potential.
Where is the apartment building located?
The property is located at 433 Atlantic Ave Oceanside, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Significant upside potential due to below-market rents, offering a strong value-add opportunity.; High-traffic location ensures consistent foot traffic and strong visibility for your business.; The property boasts a flexible floor plan easily adaptable to various business needs.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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433 Atlantic Ave
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