Four-Unit Residential
New
For Sale
$1,149,999
22 Virginia Avenue, Hempstead, NY 11550
Fully occupied residential property with eight bedrooms and four bathrooms.
Property Size4,320 SF
Price / SF$266.20
Days on Market1
Property Features for 22 Virginia Avenue
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$17,464
Building Details
Building Size
4,320 SF
Year Built
1950
Buildings
1
Units
4
Listing Agency:
BERKSHIRE HATHAWAY
Listed By:
Fatima Smith AHWD
(516) 668-9154
Source:
Georgemcknight
Added: Oct 23
Last Checked: Oct 23 at 5:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 4,320 square feet, arranged as eight bedrooms and four bathrooms. Built in 1950, the building is fully occupied.
The property is near the Southern State Parkway, Mercy Hospital, schools, shopping, dining, and public transportation. It is located at 22 Virginia Avenue in Hempstead, New York.
The property is near the Southern State Parkway, Mercy Hospital, schools, shopping, dining, and public transportation. It is located at 22 Virginia Avenue in Hempstead, New York.
Key Highlights
- Four units with 8 bedrooms and 4 baths
- Fully occupied
- 4,320 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,301
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,646,020
$1.6M
Cap Rate 7%
$1,175,729
$1.2M
Cap Rate 9%
$914,456
$914.5K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$124.4K $28.80/SF
− Vacancy
−$6.8K −$1.58/SF
EGI
$117.6K $27.22/SF
− OpEx
−$35.3K −$8.16/SF
NOI
$82.3K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,646,020
Cap Rate 7%
$1,175,729
Cap Rate 9%
$914,456
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,301 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$1.10M
$963.2K – $1.28M
NOI $77,058 @ 7.0% cap · market cap 6.70%
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.33M
NOI $199,940 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential property with eight bedrooms and four bathrooms.
Where is this quadplex located?
The property is located at 22 Virginia Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $1,149,999.
What are key features of this property?
This property features: Four units with 8 bedrooms and 4 baths; Fully occupied; 4,320 square feet
