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$1,299,000
Est. payment /mo
2,500 Sqft Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1016032
Rental Info No
Year Built 1930
Annual Tax Amount $24,233
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
Updated Cap Rate Calculation
Annual Gross Income: $125,741
Annual Operating Expenses: $46,487
Net Operating Income (NOI): $79,254
Asking Price: $1,299,000
Cap Rate = NOI ÷ Purchase Price × 100
$79,254 ÷ $1,299,000 = 6.10% Cap Rate
Property Remarks
Exceptional investment opportunity in the highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price.
The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens' most established neighborhoods.
Annual Gross Income: $125,741
Annual Operating Expenses: $46,487
Net Operating Income (NOI): $79,254
Asking Price: $1,299,000
Cap Rate = NOI ÷ Purchase Price × 100
$79,254 ÷ $1,299,000 = 6.10% Cap Rate
Property Remarks
Exceptional investment opportunity in the highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price.
The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens' most established neighborhoods.
Location
State NY
County Queens
Rooms
Basement Full, Unfinished, Walk-Out Access
Interior
Heating Oil
Cooling None
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Queens 27
School District Queens 27
Others
Special Listing Condition None
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Listed by Elite Realty of USA Inc • Chandar Persaud
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716