1616 Gates Avenue
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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%.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 23, 2018 | No longer available | - | |
| No longer available | |||
| Jun 20, 2018 | Sold | ||
| Sold | |||
| Jun 11, 2018 | Listed | $3,199,000 | |
| Listed | |||
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Here is everything you've been looking for in East Manhattan- a rare 5088 SF home with a magnificent backyard perfect for families and large gatherings on a flat 7500 SF lot. Located mid-block on Gates Avenue, this estate like home has been maintained to perfection. Built by one of the neighborhood's most reputable builders, Gary Wells, this home features 5 bedrooms + media room, 5.5 bathrooms, 3 fireplaces, and a 3 car garage. Open layout on the first level with super expansive multiple granite islands in the gourmet kitchen and a huge eat in area. The spacious kitchen has over 40 cabinets, slab granite counters, high quality stainless steel appliances, and tile floors. The family room has over 25 ft of custom built-in cabinets and a separate formal dining room adjacent to the kitchen. You'll also find a bedroom suite and powder room, perfect for an office or guest bedroom. The second level has 4 bedrooms including one of the largest master suites you’ll see in East Manhattan Beach with a king sized walk-in closet with island, 3 additional bedrooms, a media room with built in beverage refrigerator, and a laundry room. No expense has been spared on the upgraded south facing backyard with a huge covered Lanai, mounted television, turf yard with a bocce ball court, 6-7 person hot tub, glass dual burner fire pit with seating, and an outdoor kitchen with built in BBQ. Close proximity to award-winning Manhattan Beach schools. Also available for lease- $10,500/mo The manager has listed the unit size as 5088 square feet.
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| Apr 4, 2018 | Listed by Vista Sotheby’s Realty | $3,199,000 | |
| Listed by Vista Sotheby’s Realty | |||
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About Eastside Manhattan Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017