479 Front Street
$10,000,000
479 Front Street, Hempstead, NY 11550
33,263 sqft
Building Size
31
Units
Details:
Description:
KW Commercial has been exclusively retained for the sale of the Village Lofts at 479 Front Street in Hemp-stead, NY – Nassau County. This is an amazing opportunity to purchase a newly built multifamily property at a 6.2% CAP rate with an assumable mortgage at 70% LTV. The loan has 30 years remaining with a fixed rate of 2.12% for the duration of this fully amortized loan, creating a highly attractive cash-on-cash return for the buyer.
About the Building:
• 2014 New construction, 4 Story Class A apartment building with elevator
• 29 residential units
- 19 One Bedrooms - 810 sf avg.
- 8 Two Bedrooms - 1,035 sf avg.
- 2 Two Bedroom Duplexes with den - 1,350 sf avg.
• 2 commercial units
- 1 storage
- 1 office
• 33,263 square feet
• 80% (23 units) Fair Market Value
• 20% (6 units) Work Force Housing at 50% and 60% AMI
• Nine and a half foot ceilings
• Lobby and common areas including bike storage and community room with bathroom and kitchen
• Hardwood floors throughout all units
• Washer and dryer in each apartment
• Gated parking lot with 52 parking spaces
• All units are individually metered for electric and gas
• All workforce & market rate units are built with the same standard
• Possible to do condo conversion
Documents:
| Title | ||
|---|---|---|
| 479 Front Street OM - April 2025 KW |
Location
Gallery
