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5605 FREDDY PLACE
About This Property
Exceptional investment opportunity offering three separately deeded and taxed contiguous parcels totaling approximately 23.48 acres, being sold together in one transaction. This unique opportunity includes 5650 Bea Place (3.00 acres), 5605 Freddy Place (10.60 acres), and 5626 Bea Place (9.88 acres), providing significant potential for investors, builders, contractors, or those seeking a large acreage holding.
5650 Bea Place features a 3-bedroom, 2-bath home with basement and detached garage. The home has been vacant for an extended period, the electric meter has been removed, and the condition of the dwelling is unknown. 5605 Freddy Place offers a 3-bedroom, 2-bath home situated on 10.60 acres. Tax records indicate approximately 800 square feet; however, the home appears larger and buyers should verify all measurements and property information. 5626 Bea Place consists of 9.88 acres improved by a trailer of unknown condition and additional areas previously utilized for storage of equipment, and miscellaneous materials.
All structures are vacant. Properties are being sold strictly AS-IS, WHERE-IS with no repairs, cleanout, or warranties by the seller. The condition and functionality of all improvements, utilities, wells, septic systems, and other components are unknown. Buyer is responsible for conducting all inspections, investigations, and due diligence. A rare opportunity to acquire three adjoining parcels with substantial acreage and multiple existing improvements.
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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%.
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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 |
|---|---|---|---|
| Jun 8, 2026 | Listed by Baldus Real Estate, Inc. | $550,000 | |
| Listed by Baldus Real Estate, Inc. | |||
| Mar 19, 2008 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017