51 & 59 Grand Ave

$554,000

51 Grand Avenue, New York, NY 13790

For Sale

Unknown Listing Type

Active

Last Updated: 03/13/2023

Details:

Cap Rate: 6.53%

NOI: $36,154

Building Size: 8,997 sqft

Lot Area: 0.48 acres

Units: 11

Year Built: 1920

Zoning: Urban Multi Family

Floors: 2

Offered by

Scott Warren

Broker and Managing Director

SVN Innovative Commercial Advisors

#10491212432

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Description:

Tremendous opportunity ! This is the sale of 2 buildings. Side by side. 11 Units. These buildings are in an excellent location to take advantage of the new developments in Johnson City, NY. These are walking distance to the New Pharmaceutical Campus, The UHS complex and the new Campuses planned in Johnson City, NY. This offering includes an 8 unit building all one bedroom units which is a perfect setup for Students, Faculty at the college or travel Nurses at UHS. The 3 unit Tudor building next door is suitable for Executive living. These buildings include Laundry, a 7 car garage (the current owner is willing to leaseback some of the garage space) and there is loft space available above the garage for additional development or storage. The current rents are well below market rates.

These buildings are in an excellent location to take advantage of the new developments in Johnson City, NY. These are walking distance to the New Pharmaceutical Campus, The UHS complex and the new Campuses planned in Johnson City, NY.

2 Buildings with 11 Units.

The Tudor style building is suitable for Executive living.

7 Garages.

Off Street Parking.

Laundry available.