3321 Memel Street
About This Property
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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 |
|---|---|---|---|
| Sep 14, 2022 | Sold | ||
| Sold | |||
| Jun 8, 2022 | Listed by ST & A, Realtors | $220,000 | |
| Listed by ST & A, Realtors | |||
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Welcome to Memel Street Fourplex! Great opportunity as investment fourplex for investor/handyman or rehab project for buyer(s) looking to bring it to tip-top shape. Four separate units with potential for income-generation from all four units after remodel. The first and second units (blue houses) are livable and are currently being rented to tenants (month-to-month); need some TLC and updating. The third and fourth units (beige houses) need complete rehab/remodel. First unit is a 2 bed/1.5 bath with 600 sq ft. The second unit is 3 bed/2 bath with 975 sq ft. The third and fourth units are each 680 sq ft and floor plans for rehab are flexible to suit your needs/wants. Prime location only minutes from Downtown, Midtown, EADO, and the Heights. Easy access to major highways. Ample parking in gravel driveway on property. Take this "blank canvas" and make it your own adding your personal touches and updates. Don't wait... Give us a call... this gem is ready to be yours!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017