385 Silver Lane$2,599,999
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385 Silver Lane
House in Oceanside •  building info
studio • 21,700ft² $120 per ft²
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List Price

$2,599,999

Key Details
Days on market
303
Last price change
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Estimated payment
$18,803
Taxes
$4,013
Monthly maintenance
N/A
Description
Calling All Investors, Developers & End-Users!!! 1+ Acre 5 Unit Development Site For Sale!!! The Property Features Great Exposure, Excellent Signage, 200 Amp, High 26' Ceilings, 15 Parking Spaces, 3 Br. House, Garage, 4 Greenhouses, Strategically Placed Curb Cuts, Strong Zoning, CAC, +++!!! The Property Is Located In The Heart Of Oceanside 1 Block Off Busy Atlantic Avenue!!! Neighbors Include Audi, Amazon, Nike, Costco, 7-Eleven, Dunkin, Walgreens, HomeGoods, Trader Joe's, IHOP, KFC, +++!!! According To The Owner An 84 Unit Assisted Living Facility Is Being Built Next Door To This Property. The Entire Property Can Be Delivered Vacant If Need Be. This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site / Home For Your Business!!! Income: Main 3 Br. House: 1,800 Sqft.: $48,000 Ann. (Available) 6,000 Sqft. Greenhouse: $84,000 Ann. (Available) (2) 5,000 Sqft. Greenhouses: $75,000 Each Ann. (Available) 2,000 Sqft. Greenhouse: $32,000 Ann. (Available) Pro Forma Gross Income: $314,000 Ann. Expenses: Maintenance & Repairs: $250 Ann. Insurance: $4,000 Ann. Taxes: $48,158.68 Ann. Total Expenses: $52,408.68 Ann. Net Operating Income (NOI): $261,591.32 Ann. (Pro Forma 10.06 Cap!!!)

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Building Amenities
Parking Available
Building info

History
What it'll cost
Purchase price
$2,599,000
Asking Price: $2,599,999
Term
30 Years
Down Payment
$259,000 (10%)
Min: 10% (259,000)
Rate
6.5 %
Mortgage Amount
$2,339,999
Mortgage Payment
$14,790
Taxes
$4,013
Estimated Yoreevo rebate

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Estimated closing cost
$94,000
Total monthly cost $18,803
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Listing Courtesy of All Island Estates Realty Corp

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