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About This Property
Don't miss your opportunity to BID...BUY and BUILD on this 5+/- acre multi-family lot that allows for 5 units per acre. Zoned: RM-5 (residential multi-family 5 units per acre). This parcel has 3 entry points: Jacobs Road and Sibley Ave. which both dead end at the property. City water is available on both Jacobs Rd. and Sibley Ave. near the property line. Attached are additional documents.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 21, 2018 | Sold | ||
| Sold | |||
| Sep 27, 2018 | Listed by Elliot Paul & Company | $295,000 | |
| Listed by Elliot Paul & Company | |||
| Mar 16, 2018 | Listed by Coldwell Banker Paradise | $295,000 | |
| Listed by Coldwell Banker Paradise | |||
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Owner taking huge loss on this 5 acre multifamily parcel(owner paid $575,000 in 2005). Zoned RM-5 (Residential Multifamily 5 units per acre). High and Dry. City water on both Sibley Ave. and Jacobs Rd. near the property line. Sewer is located at corner of Elizabeth Ave. and S. 21 St. approximately 600 from the property.
See attached documents for location of water and sewer, conceptual site plans, and phase I environmental report.
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About Fort Pierce South
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017