433 Atlantic Ave Oceanside, NY 11572
- Retail properties
- 1,170 SF
- 0.29 lot acres
Current Use by Public Records
- Rainbow Nursery & Landscaping / Plant Nursery
Property Details for 433 Atlantic Ave
- Year built
- 1935
- Construction
- FRAME
- Lot size
- 0.29 lot acres
- Property size
- 1,170 SF
- Property type
- Retail properties
- APN
- 43-379-00-0048
- APU
- 43379000048
Description
This four-unit apartment building at 433 Atlantic Avenue, Oceanside, NY 11572, presents a compelling value-add investment opportunity. Currently generating a net operating income (NOI) of $118,000 and a 5.36% capitalization rate, the property offers significant upside potential. A pro-forma NOI of $158,800 and a pro-forma cap rate of 7.22% are projected, reflecting the opportunity to increase rental income by aligning current rents with market rates. Located in the vibrant community of Oceanside, this property benefits from its proximity to numerous retail establishments, including Stop & Shop, PC Richards, and Dunkin', as well as the Woodcrest Luxury Apartments. Its convenient location, a short walk from the Oceanside Long Island Rail Road station, enhances its appeal to commuters and tenants. The asking price for this multifamily property is $2,200,000. This Nassau County investment presents a strong chance for substantial returns through rental increases. The property's current below-market rents provide a clear path to improved profitability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oceanside
- County
- Nassau
- State
- New York
- Longitude
- -73.6514
- Latitude
- 40.6403
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
