1915 GRIFFITH ROAD
About This Property
Redevelopment potential. New builds/pop-ups/renovations throughout neighborhood. 10,074 Sq. Ft. Level Lot. 1,071 square foot rambler with pull-down attic access plus a detached 480 finished square foot Shed/Workshop sructure with 2nd kitchen, 2nd bath, B.R. and Living area handy for additional family living space. The home is being sold strictly AS-IS.
Ideal opportunity for builders, investors, buyers looking to renovate or build new. Pimmit Hills has experienced significant redevelopment with many new construction homes selling at $1,855,000 and $2,330,000. The property is surrounded by a mix of original homes and new builds, making this an attractive location for redevelopment.
Property is vacant. No useage of Sentrilock or interior showings until property goes Active on Friday March 13.
Excellent commuter location close to major employment centers, shopping, transportation and services.
Bring your vision. Tremendous potential in a prime location.
Offer deadline: Noon: Friday March 20. Seller reserves right to accept an offer at any time.
Property sold AS-IS. Seller will make no repairs.
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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.
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About Pimmit Hills
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017