65-57 Myrtle Ave Glendale, NY 11385
- Investment properties
- 3,230 SF
- 0.04 lot acres
Current Use by Public Records
- Myrtle Avenue Liquors / Liquor Store
Property Details for 65-57 Myrtle Ave
- Year built
- 1910
- Lot size
- 0.04 lot acres
- Property size
- 3,230 SF
- Zone code
- R5D
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 03677-0026
- APU
- 36770026
Description
This exceptional mixed-use property at 6557 Myrtle Avenue in Glendale, NY, presents a lucrative investment opportunity. The building, measuring 20 feet by 55 feet, encompasses a total of 3,230 square feet and features a thriving commercial storefront on the first floor, currently generating a monthly rental income of $3,800. Above the commercial space, the building offers two residential units, each providing substantial rental income. The second-floor unit, a three-bedroom, one-bathroom apartment, commands a monthly rent of $2,300, inclusive of water. The third-floor unit, also a three-bedroom, one-bathroom apartment, rents for $2,600 per month, with water included. All other utilities are separately metered for each unit, ensuring efficient cost management for tenants and owner. This property is situated on a lot with no acreage specified, offering a prime location in the vibrant Glendale market. The asking price of $1,699,900 represents a compelling investment opportunity with significant potential for future appreciation and strong, consistent cash flow from both commercial and residential tenants. This is a rare chance to acquire a well-maintained, income-producing property in a desirable area. The current rental income stream provides a solid foundation for immediate returns, making this an attractive proposition for both seasoned investors and those seeking a stable, high-yield investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $540,000
- 6.5%
- $475,000
- 7%
- $500,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $475,000
- Geo Method
- $510,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $575,000
- Retail
- $510,000
- Mixed-Use
- $525,000
- Hospitality
- $480,000
- Educational
- $490,000
- Residential Income
- $435,000
- Energy
- $480,000
- Income-Based Land
- $565,000
- Food Service
- $555,000
Location Insight
- Map
- Local Demand
- City
- Glendale
- County
- Queens
- State
- New York
- Longitude
- -73.8886
- Latitude
- 40.7015
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
