421 E Broadway - Apartments FOR SALE


Long Beach, NY 11561
$5,200,000 USD
631-425-1232
421 E Broadway, Long Beach, NY for Sale
$5,200,000 USD
Apartments - FOR SALE
1/5
null | 6.44% Cap Rate

421 E Broadway
Long Beach, NY 11561


HIGHLIGHTS

  • 25 Units: 20 Studios, 4 1BRs, 1 2BR
  • No Rent Stabilization Requirements
  • Established Apartment Community with Significant Rental Upside
  • Prime Location proximate to Long Beach Boardwalk & Major Developments
  • Limited Multifamily Supply & High Demand

OVERVIEW

As exclusive agents, Cushman & Wakefield is pleased to offer for sale a 100% fee interest in East Broadway Gardens, a 25-unit garden-style apartment complex ideally located on the north side of East Broadway between Franklin Boulevard and Lincoln Boulevard in Long Beach, NY. Positioned just steps from the iconic Long Beach Boardwalk, East Broadway Gardens comprises a mix of twenty studio apartments, four one-bedroom units, and one two-bedroom unit, all of which feature individual heating and air conditioning systems. Tenants are responsible for their own electric utilities, covering heat, lighting, and appliances, while the landlord is responsible for water. The property also offers an investor the option to operate an on-site laundry facility or contract with a major vendor. With no rent stabilization requirements, East Broadway Gardens provides a rare investment opportunity within the high-demand Long Beach market. Its central location offers tenants direct access to the oceanfront lifestyle while being within walking distance to local shopping, dining, and entertainment options, enhancing its appeal in one of Long Island’s most desirable coastal communities.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$372 USD /SF

# OF UNITS

25

PRICE/UNIT

$208,000

CAP RATE

6.44%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East Broadway Gardens

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1951

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,799 SF

ZONING

Residence J

APN/PARCEL ID

1000-59-159-00-0051-0

ASK ABOUT THIS PROPERTY

Daniel AbbondandoloCushman & WakefieldMore Info
631-425-1232

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Daniel AbbondandoloCushman & WakefieldMore Info
631-425-1232

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.