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26 & 28 Linden St 2 Multifamily Properties Offered at $8,696,128 CAD in Great Neck, NY
Investment Highlights
- Two adjacent free-market multifamily buildings — sold as one 9-unit package
- 100% free-market — no rent control or stabilization on any of the 9 units
- Adjacent parcels share a property line — operational efficiency vs. running two separate deals
- ~6% portfolio discount — $6,000,000 vs. $6,400,000 combined standalone asks
- Optional expansion to 18 units — combined Linden + Spruce St package available on request
- Great Neck UFSD — top-ranked Long Island school district drives sustained rental demand
Executive Summary
26 & 28 Linden Street — 9-Unit Free-Market Multifamily Portfolio | Great Neck, NY
Two adjacent multifamily buildings, free-market, sold as a single 9-unit package at a portfolio discount. 1031-eligible.
THE OPPORTUNITY
Acquire 26 Linden St (5 units) and 28 Linden St (4 units) — side-by-side on the same Great Neck block — for $6,000,000 combined. That's ~$400K below the sum of the standalone asks ($3.45M + $2.95M = $6.4M), a ~6% bundle discount.
OPTIONAL EXPANSION TO 18 UNITS
The seller is open to combining the Linden portfolio with adjacent free-market multifamily holdings on Spruce Street, bringing the total offering to 18 units across multiple buildings in the same Great Neck submarket. Inquire for terms on the expanded package.
WHY THE PORTFOLIO PACKAGING WORKS
• Adjacent footprints. Both Linden parcels share a property line — operationally simpler than two separate transactions.
• 100% free-market. Every unit is unrestricted. Buyer captures full upside on turnover renovations and rent-to-market repositioning.
• Aligned cap rates. Both buildings underwrite at 4.40–4.41% individually; the portfolio price improves the blended yield on combined NOI.
• Single-closing efficiency. One CA, one OM, one diligence process — eliminate the friction of two parallel transactions.
LOCATION
Great Neck, Nassau County. Long Island's strongest school district (Great Neck UFSD), walkable to village shops and restaurants, ~30 minutes to Penn Station via LIRR. One of the most stable rental submarkets on Long Island.
INVESTMENT THESIS
A defensive multifamily basis in one of the New York metro's most rate-resistant rental submarkets. Day-one yield at a 4.40% blended cap, mark-to-market upside on every turnover, and an optional path to an 18-unit position alongside ownership's Spruce Street holdings. Cleaner basis than ground-up; faster path than entitlements.
IDEAL BUYER
Private capital, family offices, and 1031 exchangers seeking tax-efficient yield with embedded value-add. Long-hold investors get rate-insensitive Nassau cash flow; operators get free-market turnover upside without entitlement or rezoning risk.
NEXT STEP
Full data room — OM, rent rolls, T-12, capex schedule, lease abstracts — available on executed CA. Seller is motivated and decision-ready.
Two adjacent multifamily buildings, free-market, sold as a single 9-unit package at a portfolio discount. 1031-eligible.
THE OPPORTUNITY
Acquire 26 Linden St (5 units) and 28 Linden St (4 units) — side-by-side on the same Great Neck block — for $6,000,000 combined. That's ~$400K below the sum of the standalone asks ($3.45M + $2.95M = $6.4M), a ~6% bundle discount.
OPTIONAL EXPANSION TO 18 UNITS
The seller is open to combining the Linden portfolio with adjacent free-market multifamily holdings on Spruce Street, bringing the total offering to 18 units across multiple buildings in the same Great Neck submarket. Inquire for terms on the expanded package.
WHY THE PORTFOLIO PACKAGING WORKS
• Adjacent footprints. Both Linden parcels share a property line — operationally simpler than two separate transactions.
• 100% free-market. Every unit is unrestricted. Buyer captures full upside on turnover renovations and rent-to-market repositioning.
• Aligned cap rates. Both buildings underwrite at 4.40–4.41% individually; the portfolio price improves the blended yield on combined NOI.
• Single-closing efficiency. One CA, one OM, one diligence process — eliminate the friction of two parallel transactions.
LOCATION
Great Neck, Nassau County. Long Island's strongest school district (Great Neck UFSD), walkable to village shops and restaurants, ~30 minutes to Penn Station via LIRR. One of the most stable rental submarkets on Long Island.
INVESTMENT THESIS
A defensive multifamily basis in one of the New York metro's most rate-resistant rental submarkets. Day-one yield at a 4.40% blended cap, mark-to-market upside on every turnover, and an optional path to an 18-unit position alongside ownership's Spruce Street holdings. Cleaner basis than ground-up; faster path than entitlements.
IDEAL BUYER
Private capital, family offices, and 1031 exchangers seeking tax-efficient yield with embedded value-add. Long-hold investors get rate-insensitive Nassau cash flow; operators get free-market turnover upside without entitlement or rezoning risk.
NEXT STEP
Full data room — OM, rent rolls, T-12, capex schedule, lease abstracts — available on executed CA. Seller is motivated and decision-ready.
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 26 Linden St, Great Neck, NY 11021 | Multifamily | 5,097 SF | 1943 | $4,687,757 CAD |
| 28 Linden St, Great Neck, NY 11021 | Multifamily | 5,097 SF | 1943 | $4,008,372 CAD |
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26 & 28 Linden St
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