Property profile

203 Willis Ave Mineola, NY 11501

FOR SALE
Apartment buildings
Property ID
US63-5849196
3,570 SF 0.12 ac lot Built 1931
Individually Owned 1-yr Hold Absentee Owner Free & Clear
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For Sale
Contact for pricing 3,570 SF
203 Willis Ave, Mineola, NY 11501
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Property summary

AI-generated overview

This exceptional 15-unit apartment building presents a compelling investment opportunity in the thriving Mineola, New York market. Located at 203 Willis Avenue, this three-story building, constructed in 1931, offers a blend of classic charm and modern convenience. The property is currently fully occupied, generating consistent rental income. The building features a desirable mix of apartment units, all within a well-maintained structure. A ground floor common area provides added convenience for residents, while a rear garden offers a tranquil outdoor space. Its prime location in Mineola ensures easy access to schools, public transportation, and municipal parking, enhancing its appeal to tenants. The asking price for this multifamily property is $3,400,000. This represents a significant opportunity to acquire a stable, income-producing asset in a highly sought-after Nassau County location, within the 11501 zip code. The building's strong occupancy rate and convenient amenities make it an attractive investment for both seasoned and aspiring real estate investors. This property is situated at 40.7461608 latitude and -73.6396475 longitude.

Property profile

Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1931
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,570 SF
Lot 0.12 ac (5,243 SF)
APN 09-409-00-0460
UPID US63-5849196

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Roofing Company General Contractor
  • Marketing & Advertising (Bike/Boat/Book/etc) Store

Location

203 Willis Ave Mineola, NY 11501
Mineola metro Census 303600 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.70M

Owner & transaction history

since 2024
5 recorded transactions
2024
Price N/A
2009
$29,000
2008
$27,075
2004
$31,500
2004
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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