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440 Middle Country Road, Middle Island, NY 11953

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For Sale

$2,999,999

8 beds • 8 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family Home
    Property type

  • 1947
    Year built

  • Electric
    Fireplace Description

Explore this Property

Once in a lifetime opportunity! Just under 8% cap rate! Legal 7 family complex on 1 acre lot completely renovated from foundation to roof within the last 2 years. Currently rented by non-for-profit organization. Rent roll - $22,440 monthly / $269,280 annual. 2% rental increase, five-year lease with one year into it. 6 studio apartments with bathroom and kitchen. One meter for six studios. Ductless heating and cooling, additional back up hot water, baseboard. Detached two bedroom house with full bathroom, separate meter,detached office with full bathroom, separate meter and ductless unit. Gated complex with enormous blacktop driveway. Property will provide immediate cash flow. Perfect for first time buy and hold investor or professional investor. Incredible trophy asset for portfolio. Property recently appraised for 3.4 million. Seller potentially willing to hold note. Fantastic location off of Middle Country Road, close to stores, shopping, bus stops, and other multi family and development projects. Tenant pays all expenses except: taxes, insurance, yard maintenance and snow removal. Lots of potential upside to bring in more revenue and increase cap rate!
MLS# 3507815

Courtesy Of Coldwell Banker American Homes

631-863-9800

Property Features

  • Exterior Description
    Vinyl Siding
  • Fireplace Description
    Electric
  • Garage Description
    No Garage
  • Sewer
    Cesspool
  • Style
    Other Style
  • Water
    City Water

Map and Directions

Directions to 440 Middle Country Road, Middle Island, NY 11953

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Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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