77 Illinois Ave
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 |
|---|---|---|---|
| Jun 28, 2022 | Sold | ||
| Sold | |||
| Mar 11, 2022 | Listed by HomeSmart Preferred Realty | $1,350,000 | |
| Listed by HomeSmart Preferred Realty | |||
| | |||
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Two for One! A developer's dream! Subdividing is possible on this commercially zoned block that is just under one acre in the heart of SALIDA. Zoned C-1 allows to maximize development. This property has a little of everything for anyone. IN THE HOME: All 4 bedrooms are on the upper level. The kitchen, dining, family room are on the main level and the recreation room /craft room is on the lower level of this tri-level home that sits on the corner of Illinois and Milford. All traditional hardwood floors, a gas fireplace, and a major bonus of a huge walkout basement to make into any kind of space! With sprinklers for the grass, maintenance is easy and you can enjoy your back patio views of "S" mountain. A rocks throw to the Salida Middle School and tennis courts. IN THE COMMERCIAL BUILDINGS: According to the assessor's website, there is a 2025 square foot building and a 888 square foot office space. This amount of commercial land is highly coveted and can be used for anything you'd like it to be. With C-1 zoning you can be creative with city approval. There have been 2 City of Salida water taps paid for, 1 City of Salida sewer tap paid for and both are included with the sale of the property in case you would like to subdivide. Keep the existing domestic well in place for irrigation. Skies the limit, possibilities are endless and this could quite possibly be your next adventure! So much opportunity to dream wildly or be inventive. OR you can live and work just steps from each other which is a rare opportunity. Please see our virtual tour. *Business not included. Partial seller carry is a possibility.
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| Mar 4, 2022 | No longer available | - | |
| No longer available | |||
| Jan 26, 2022 | Price Increased |
$1,350,000
↑ $151K
(12.6%) | |
| Price Increased | |||
| Dec 21, 2021 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017