203 Willis AveMineola, NY 11501

Property Details for 203 Willis Ave

Year built

1931

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.12 AC

Property size (Sq ft)

3,570 SF

Property type

Apartment buildings

APN

09-409-00-0460

APU

9409000460

Description

This exceptional 15-unit apartment building presents a compelling investment opportunity in the thriving Mineola, New York market. Located at 203 Willis Avenue, this three-story building, constructed in 1931, offers a blend of classic charm and modern convenience. The property is currently fully occupied, generating consistent rental income. The building features a desirable mix of apartment units, all within a well-maintained structure. A ground floor common area provides added convenience for residents, while a rear garden offers a tranquil outdoor space. Its prime location in Mineola ensures easy access to schools, public transportation, and municipal parking, enhancing its appeal to tenants. The asking price for this multifamily property is $3,400,000. This represents a significant opportunity to acquire a stable, income-producing asset in a highly sought-after Nassau County location, within the 11501 zip code. The building's strong occupancy rate and convenient amenities make it an attractive investment for both seasoned and aspiring real estate investors. This property is situated at 40.7461608 latitude and -73.6396475 longitude.

• CAP approach

  CAP return

  Valuation

  6%

  $731,882

  6.5%

  $675,584

  7%

  $627,328

• Comparable approach

  Method

  Valuation

  Relative Method

  $723,007

  Geo Method

  $723,007

• Alternative Use

  Use

  Valuation

  Residential

  $675,584

  Hospitality

  $618,831

  Educational

  $514,860

  Medical

  $532,567

  Retail

  $800,894

Location Insight

City

Mineola

County

Nassau

State

New York

Latitude

40.7462

Longitude

-73.6397

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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