15 Free Hill RdTomkins Cove, NY 10986

For Sale
$699,000

Two-unit apartment building, 7% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
92
Exceptional investment opportunity awaits in Tompkins Cove, NY. This multifamily property, located at 15-17 Free Hill Road, consists of two separate three-bedroom apartment units within two buildings on a 0.26-acre lot. Built in 1900, the three-story structures offer a combined 2,048 square feet of living space. The property boasts a strong net operating income (NOI) of $49,128, resulting in an attractive 7.00% capitalization rate. The asking price is $699,000, translating to $341.31 per square foot. A detached garage adds further value and convenience. This property presents a compelling opportunity for investors seeking a stable, high-yield investment in a desirable location. The property's strong cash flow and potential for future appreciation make it an ideal addition to any investment portfolio. The Rockland County location offers easy access to local amenities and transportation. The property's APN is 392800-010-004-0001-081-000-0000.

Highlights

  • Exceptional multifamily investment opportunity in Tompkins Cove, NY.
  • Two separate three-bedroom units totaling 2,048 sq ft on a 0.26-acre lot.
  • Strong NOI of $49,128 and a 7.00% cap rate.
  • Asking price: $699,000 ($341.31/sq ft).
  • Includes a detached garage.

Property Details for 15 Free Hill Rd

Property type
Multifamily properties, Apartment buildings
Square Feet
2,048 SF
Year Built
1900
Buildings
2
Stories
3
Lot Size (sq. ft)
11,326 SF
Units
2

Location Insight

City
Tomkins Cove
County
Rockland
State
New York
Latitude
41.2521274
Longitude
-73.987338
15 Free Hill Rd, Tomkins Cove, New York
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15 Free Hill Rd
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