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$ 1,780,000
Est. payment | /mo
6 Baths
3,630 SqFt
$ 1,780,000
Est. payment | /mo
6 Baths
3,630 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,630 sqft
Price per Sqft $490
MLS Listing ID 11994731
Style Mid-rise
Full Baths 6
Year Built 1986
Annual Tax Amount $33,450
Lot Size 2,200 Sqft
Property Description
PRIME QUEENS MULTIFAMILY INVESTMENT! An excellent opportunity to acquire a five-family income-producing property featuring seller-reported FREE-MARKET RENTAL APARTMENTS in the highly convenient Elmhurst neighborhood. This three-story residential investment property offers steady existing rental income, convenient access to transportation, shopping, restaurants, and major roadways, making it an attractive addition to any multifamily investment portfolio. PROPERTY HIGHLIGHTS Property Type: Five-Family Multifamily Building Size: Approximately 3,630 SF Lot Size: Approximately 2,200 SF Lot Dimensions: Approximately 22 x 100 Stories: 3 Asking Price: $1,800,000 Five seller-reported free-market apartments Strong existing cash flow Desirable Elmhurst rental location Ideal for multifamily investors and 1031 exchange buyers Available individually or together with adjacent six-family property ANNUAL FINANCIAL OVERVIEW Gross Rental Income: $139,416 Real Estate Taxes: $33,000 Electricity: $1,440 Water/Sewer: $2,850 Gas: $4,180 Insurance: $5,400 Total Operating Expenses: $46,870 Net Operating Income (NOI): $92,546 CAP RATE: 5.14% LOCATION, LOCATION, LOCATION! Conveniently located in the heart of Elmhurst, Queens, near: Queens Center Mall and Queens Place Mall Woodhaven Boulevard M/R subway station Grand Avenue-Newtown M/R subway station Queens Boulevard and major shopping corridors Long Island Expressway and Woodhaven Boulevard Supermarkets, restaurants, schools, parks, and neighborhood services Elmhurst continues to offer an established residential setting with excellent accessibility to Manhattan and other major Queens neighborhoods. EXCELLENT INVESTMENT POTENTIAL With seller-reported free-market rental apartments, existing rental income, and a convenient location, this property offers investors an opportunity to own a multifamily asset in New York City. DON'T MISS THIS ELMHURST INVESTMENT OPPORTUNITY! Contact us today for additional financial information, rental details, or to schedule a private showing.
Location
State NY
County 36081
Rooms
Basement Full
Dining Room 0
Kitchen 0
Interior
Laundry 1
Exterior
Parking Features Attached
Garage Spaces 2.0
Building
Story 3
Sewer Municipal
Water Municipal
Structure Type Masonry - Brick
NEARBY SCHOOL & BUSINESS