290 North Railroad Avenue

$2,400,000
Price
1
Beds
7
Baths
3,040 Sq. Ft.
$789 / Sq. Ft.
3,040
Sq. Ft.
$789
per Sq. Ft.

Description

290 North Railroad Ave presents an exceptional investment opportunity with 7 meticulously maintained units, consisting of 6 studios and 1 one-bedroom apartment. Located just steps from Hylan Blvd, this full brick building benefits from easy access to public transportation, including bus services and the ferry, making it not only deal for commuters but ensuring occupancy for years to come. Each apartment has been recently renovated, showcasing modern finishes and thoughtful layouts. All units have...290 North Railroad Ave presents an exceptional investment opportunity with 7 meticulously maintained units, consisting of 6 studios and 1 one-bedroom apartment. Located just steps from Hylan Blvd, this full brick building benefits from easy access to public transportation, including bus services and the ferry, making it not only deal for commuters but ensuring occupancy for years to come. Each apartment has been recently renovated, showcasing modern finishes and thoughtful layouts. All units have separate utilities, which have been updated to ensure efficiency and tenant comfort. Currently generating a monthly gross income of 11K, there's substantial potential to increase this to 18K, providing an impressive opportunity for investors. With the potential to enhance the cap rate to 8.5, this property is not rent-stabilized, allowing for greater flexibility in management and rental rates. Don't miss the chance to invest in this prime real estate opportunity in a thriving area with unmatched growth potential. Contact us today for more details or to schedule a viewing!

Property Details for 290 North Railroad Avenue

Parking
On Street
Area Name
Old Town
Zoning
R2
LISTING UPDATED: 10/11/2024 07:37 AM

Property Details for 290 North Railroad Avenue

StatusActive
MLS ID2405710
Days on Market8
Taxes$24,072 / year
Maintenance-
Min. Down Pymt-
Total Rooms-
Compass TypeMulti Family
MLS TypeMultiFamily
Year Built1974
Lot Size7,300 SF / 116' x 105'
CountyRichmond County

Building

290 N Railroad Ave

7 Units2 StoriesBuilt in 1974

Building Information for 290 North Railroad Avenue

Stories2Residences7Year Built1974Building Size40' x 38'Building Sq. Ft3,040 SFLot Size7,300 SF / 116' x 105'Building Age-Building Type-

Property Information for 290 North Railroad Avenue

Summary
Location and General Information
  • Absolute Longitude: 74
  • Directions: PLEASE USE GPS FOR DIRECTIONS
  • Section: Mid-Island
Parking
  • Garage Location: None
  • Garage Capacity: 0.0
Taxes and HOA Information
  • Tax Abated: No
Property
Lot Information
  • Block: 03200
  • Lot: 0006
  • Lot Dim: 116.8X 104.58
  • Parcel ID: 03200-0006
Property and Assessments
  • CofO: Yes
  • Condition: Excellent
  • Irregular: Yes
  • Property Group ID: 19990816212116581394000000
  • Year Built Info: Approx
Utilities
  • Cooling: Yes
  • Electric: 110
  • Electric Meters: Individual
  • Gas Meters: Individual
  • Sewer: City
Interior and Exterior Features
Interior Features
  • # of A/C Units: 7
  • Air Conditioner: Units
  • Basement Desc: Unfinished
  • Basement Type: Crawl
  • Full Baths: 7
  • Heat Source: Gas
  • Heat System: Hot Water
  • No. of Heating Units: 7
  • Total Baths: 7.00
Exterior Features
  • Bldg. Dimensions: 40 X 38
  • Siding: Brick
Multi Family
Multi-Family Information
  • Extras: Cable, Intercom
  • Income & Expenses: Gross Income: $151,140.00
  • Income & Expenses: Net Income: $116,821.00
  • Income & Expenses: Total Expense: $34,319.00
Unit 1
  • Unit 1: # Baths: 1
  • Unit 1: # Bedrooms: 0
  • Unit 1: # Rooms: 1
  • Unit 1: Level: 1
  • Unit 1: Rent/Month: $1,550.00
Unit 2
  • Unit 2: # Baths: 1
  • Unit 2: # Bedrooms: 0
  • Unit 2: # Rooms: 1
  • Unit 2: Level: 11
  • Unit 2: Rent/Month: $1,225.00
Unit 3
  • Unit 3: # Baths: 1
  • Unit 3: # Bedrooms: 0
  • Unit 3: # Rooms: 1
  • Unit 3: Level: 1
  • Unit 3: Rent/Month: $2,440.00
Unit 4
  • Unit 4: # Baths: 1
  • Unit 4: # Bedrooms: 1
  • Unit 4: # Rooms: 2
  • Unit 4: Level: 1
  • Unit 4: Rent/Month: $1,300.00
Unit 5
  • Unit 5: # Baths: 1
  • Unit 5: # Bedrooms: 0
  • Unit 5: # Rooms: 1
  • Unit 5: Level: 2
  • Unit 5: Rent/Month: $1,300.00
Unit 6
  • Unit 6: # Baths: 1
  • Unit 6: # Bedrooms: 0
  • Unit 6: # Rooms: 1
  • Unit 6: Level: 2
  • Unit 6: Rent/Month: $1,200.00
Unit 7
  • Unit 7: # Baths: 1
  • Unit 7: # Bedrooms: 0
  • Unit 7: # Rooms: 1
  • Unit 7: Level: 2
  • Unit 7: Rent/Month: $2,440.00

Property History for 290 North Railroad Avenue

DateEvent & SourcePriceAppreciationLink
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 290 North Railroad Avenue

Taxable ValueLand$15,750Additions$315,450Total$331,200
Home Facts
Total Finished SqFt3,040 SqFtLot Size7,300 SqFtYear Built1974ZoningR2APN5032000006

Schools near 290 North Railroad Avenue

This home is within New York City Geographic District #31.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
P.S. 48 William C Wilcox
PublicPK to 8

Is 49 Bertha A Dreyfus
Public6 to 8

Curtis High School
Public9 to 12

Naples Street Elementary School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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290 North Railroad Avenue is a multi-family home for sale in Grasmere. This property was listed for sale on October 10, 2024 by Robert DeFalco Realty, Inc., it's currently listed at $2,400,000. It has been on the market for a total of 8 days and was last sold on June 22, 2015. This listing's school district is New York City Geographic District #31. Nearby schools include P.S. 48 William C Wilcox, Is 49 Bertha A Dreyfus and Curtis High School. 290 North Railroad Avenue is a 1-bed, 7-bath, 3,040 sqft multi-family home built in 1974.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Robert DeFalco Realty, Inc.

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