404 HIGHWAY 6
About This Property
The property currently carries multi-family zoning, with the potential to be rezoned commercial or residential depending on your development vision. Utilities are already available, including electricity, city water, and city sewer. Sewer infrastructure may already run through portions of the property, adding even more potential for future development possibilities.
Whether you are looking to build student housing, duplexes, apartments, commercial space, or your dream investment project, this property offers excellent visibility, accessibility, and long-term potential in a growing area.
Opportunities like this do not come around often-especially with this location and utility access already in place!
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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 |
|---|---|---|---|
| Aug 19, 2026 | Listed by Tootie Kelly Real Estate | $239,000 | |
| Listed by Tootie Kelly Real Estate | |||
| May 13, 2026 | Listed by Tootie Kelly Real Estate | $239,000 | |
| Listed by Tootie Kelly Real Estate | |||
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This rare 11.94 Acre property offers an incredible investment and development opportunity in a highly desirable location directly across the street from Cisco College. The current owner originally purchased the property with plans to develop student housing rentals, but those plans changed, creating a unique opportunity for the next investor or developer.
The property currently carries multi-family zoning, with the potential to be rezoned commercial or residential depending on your development vision. Utilities are already available, including electricity, city water, and city sewer. Sewer infrastructure may already run through portions of the property, adding even more potential for future development possibilities.
Whether you are looking to build student housing, duplexes, apartments, commercial space, or your dream investment project, this property offers excellent visibility, accessibility, and long-term potential in a growing area.
Opportunities like this do not come around often—especially with this location and utility access already in place!
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| Oct 7, 2019 | Sold | ||
| Sold | |||
| Aug 27, 2019 | Listed by Gregory S. Davis Company | $85,000 | |
| Listed by Gregory S. Davis Company | |||
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24.416 Acres directly across from Cisco Junior College. Property is currently zoned multi-family. This property would be a great location for multi-family development. Buyer to verify all information listed.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017