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$1,789,000
Est. payment /mo
UPDATED:
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1046355
Rental Info No
Year Built 1986
Annual Tax Amount $35,500
Property Sub-Type Multi Family
Source onekey2
Property Description
Excellent investment opportunity in Elmhurst, Queens. This 5-unit multifamily property offers approximately 3,630 SF of building area on a 2,200 SF lot and features a highly desirable unit mix with strong income and additional upside potential. The property consists of a front studio and rear one-bedroom apartment on the first floor, one spacious four-bedroom/two-bathroom apartment occupying the second floor, and two one-bedroom/one-bathroom apartments on the third floor.
Current monthly rental income totals approximately $11,568, representing approximately $138,816 in annual scheduled rental income. Based on projected market rents, the property offers meaningful potential for future income growth. Current rents are: Studio $1,620/month; 1BR $2,150/month; 4BR/2BA $3,898/month; 1BR/1BA $2,300/month; and 1BR/1BA $1,600/month.
Additional property features include a private garage and driveway, rear yard, and multiple balconies. The second-floor apartment features front and rear balconies, while the third-floor apartments have access to front and rear balconies respectively.
Convenient Elmhurst location with excellent access to transportation, shopping, restaurants, and major Queens thoroughfares. The property is located near the Woodhaven Boulevard/Queens Boulevard subway station with access to the M and R trains.
Offered at $1,789,000, this property presents an opportunity for investors seeking an income-producing multifamily asset in a high-demand Queens location. Based on projected market rents of approximately $180,600 annually and estimated operating expenses, the property may offer a potential pro forma cap rate of approximately 7% at the asking price. Projections are provided for investment analysis purposes only and are not a representation or guarantee of future income or expenses.
Property information, legal use, zoning, unit configuration, rent regulatory status, income, expenses, square footage, and all other information should be independently verified by the purchaser and purchaser's representatives. Do not disturb tenants. Showings by confirmed appointment only.
Current monthly rental income totals approximately $11,568, representing approximately $138,816 in annual scheduled rental income. Based on projected market rents, the property offers meaningful potential for future income growth. Current rents are: Studio $1,620/month; 1BR $2,150/month; 4BR/2BA $3,898/month; 1BR/1BA $2,300/month; and 1BR/1BA $1,600/month.
Additional property features include a private garage and driveway, rear yard, and multiple balconies. The second-floor apartment features front and rear balconies, while the third-floor apartments have access to front and rear balconies respectively.
Convenient Elmhurst location with excellent access to transportation, shopping, restaurants, and major Queens thoroughfares. The property is located near the Woodhaven Boulevard/Queens Boulevard subway station with access to the M and R trains.
Offered at $1,789,000, this property presents an opportunity for investors seeking an income-producing multifamily asset in a high-demand Queens location. Based on projected market rents of approximately $180,600 annually and estimated operating expenses, the property may offer a potential pro forma cap rate of approximately 7% at the asking price. Projections are provided for investment analysis purposes only and are not a representation or guarantee of future income or expenses.
Property information, legal use, zoning, unit configuration, rent regulatory status, income, expenses, square footage, and all other information should be independently verified by the purchaser and purchaser's representatives. Do not disturb tenants. Showings by confirmed appointment only.
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Heating Other
Cooling Multi Units
Fireplace No
Exterior
Parking Features Driveway, Garage
Utilities Available See Remarks
Building
Foundation Other
Sewer Other
Water Other
Structure Type Other
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
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Listed by Loyaltty Inc • Royer I. Silva
NEARBY SCHOOL & BUSINESS
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