GREAT VALUE ADDED (CASH TRANSACTION): 6 MULTI-FAMILY UNITS IN HEMPSTEAD, NEW YORK. WITH SOME UPDATING AND 100% LEASE-UP PROFORMA CAP RATE TOPS 11%
PURCHASE PRICE PER THE SELLER OF $1,100,000 PLUS THE BUYER PAID 6% REAL ESTATE COMMISSION POF NEEDED
AN ALL-CASH, AS-IS TRANSACTION
31 Miller Place
Hempstead, NY 11550
Multifamily Asset
THIS IS A PRE-DILIGENCE PACKAGE AND NOT A FORMAL DUE-DILIGENCE PACKAGE. ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH ALL OF THE UPDATED P&Ls, RENT ROLLS, TENANT'S LEASES AND ANY VENDOR CONTRACTS THAT EXIST TO CLOSE THIS TRANSACTION.
TO MOVE FORWARD, THE BUYER AND/OR THE SELLER MUST SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT (DEPENDING ON THE EXECUTED PURCHASE PRICE), AND THE BUYER MUST PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW OF DATE AND THE AMOUNT OF THE EARNEST MONEY DEPOSIT THAT WILL BE ESCROWED ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL BIO OF COMMERCIAL ASSET HELD IN THEIR INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A BUYER'S VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT OF ACCOUNT.
HERE IS A NICE SMALL MONEY-MAKING UNIT MULTI-FAMILY ASSET ON HEMPSTEAD, NEW YORK IN NASSAU COUNTY. NASSAU COUNTY IS IMPORTANT TO KNOW THAT THIS 6 UNIT PROPERTY HAS A HUD CONTRACT IN PLACE THAT WILL CONVEY AT CLOSE OF ESCROW,. THE CONVEYANCE OF THE CONTRACT TO BE KNOWN IN FORMAL DUE DILIGENCE, OR MAYBE BEFORE. BUT THAT IS DEFINITELY A DUE DILIGENCE ITEM FOR SURE. WHILE ALL SIX UNITS ARE OCCUPIED,
THESE SIX UNITS ARE A BARGAIN, THESE SIX UNITS ARE A STEAL AND THESE UNITS ARE BEING SOLD, FEE SIMPLE AT A 6.5% CAP RATE, WHICH MAKES THE NET OPERATING INCOME EXCEED $71,000.00
PROPERTY FACTS
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Building Class
C
Lot Size 0.11 AC
Building Size 6,200 SF
No. Stories 3
Year Built 1928
ABOUT 31 MILLER PLACE , HEMPSTEAD, NY 11550
31 Miller Place, Hempstead, NY 11550 • Multi-Family sq ft • 6-Units
