11488 SHORT AVENUE
About This Property
This oversized 2-car garage/mini warehouse/shop offers endless possibilities! Whether you're in need of extra storage, a workshop, or envision converting it into additional apartments, the potential is limitless. This space also makes an excellent vacation rental with its prime location just a short distance from the beach.
Upstairs, you'll find a beautifully updated 2-bedroom, 1-bath home spanning 1,152 sq. ft. It's in move-in condition, with modern upgrades throughout. Located off Hamlin & Walsingham, the property is situated in an excellent neighborhood, just across the bridge from the beach.
Built as a solid cement fortress, the home includes a spacious backyard that's perfect for xeriscaping, artificial turf for enjoying outdoor activities in the Florida sun. There's plenty of room for a pool, and a 4th car parking pad offers extra space for guests. With room for a boat and located in a High & Dry, NO Flood Zone, this property is a rare find!
Immediate occupancy is available, so come see this gem today!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017