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Active - House for sale
440 Middle Country Road, Middle Island, NY 11953
Facts & features
Why you’ll love it
- Renovated
- Gated
Once in a lifetime opportunity! Just under 8% cap rate! Legal 7 family complex on 1 acre lot completely renovated from foundation to roof within the last 2 years. Currently rented by non-for-profit organization. Rent roll - $22,440 monthly / $269,280 annual. 2% rental increase, five-year lease with one year into it. 6 studio apartments with bathroom and kitchen. One meter for six studios. Ductless heating and cooling, additional back up hot water, baseboard. Detached two bedroom house with full bathroom, separate meter,detached office with full bathroom, separate meter and ductless unit. Gated complex with enormous blacktop driveway. Property will provide immediate cash flow. Perfect for first time buying hold investor or professional investor. Incredible trophy asset for portfolio. Property recently appraised for 3.4 million. Seller potentially willing to hold note. Fantastic location off of Middle Country Road, close to stores, shopping, bus stops, and other multi family and development projects. Tenant pays all expenses except: taxes, insurance, yard maintenance and snow removal. Lots of potential upside to bring in more revenue and increase cap rate!
Listed by: Bryan J Karp • teamkarp@soldbybryan.com • Coldwell Banker American Homes
Co-listed by: Coldwell Banker American Homes
Come see by yourself
Affordability
$17,014/mo
- Mortgage$15,170
- Property tax$1,844
- HOA fee
- Homeowners insurance
Beycome estimates only. Actual amounts and terms vary by lender and location.
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About Middle Island
AI-generated overview for informational purposes only.
Please verify all details independently before relying on it.
Flood & climate risk
FEMA Flood Zone X
Outside the high-risk Special Flood Hazard Area — flood insurance is usually optional but still worth considering.
More details
Source: FEMA National Flood Hazard Layer. Confirm on the FEMA Flood Map.
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Disclaimer
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided.
