710 Courtlandt Avenue, NY
5-Unit Free Market Mixed-Use Building in Melrose
Overview
Key Highlights
- Price $1,800,000
- Units 5
- Cap Rate 6.62%
Key Facts
• 5-unit mixed-use building in Melrose with 4 free market residential units and one ground floor medical office
• Free market units rented to Section 8 tenants with an average rent of $2,596 per unit and $57 rent per square foot
• Units have recently been renovated and feature separate gas boilers and hot water heaters
• The property is in tax class 2A which provides minimal yearly taxes
• Situated 2 blocks from the 3rd Ave retail corridor and a few blocks from 3rd Ave-149th St subway station for the 2 and 5 trains
• 2,825 SF of air rights for future development assemblage
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