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UPDATED:
03/09/2025 03:58 PM
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY831434
Originating Board onekey2
Rental Info No
Year Built 1986
Annual Tax Amount $30,618
Property Sub-Type Multi Family
Property Description
Calling All Investors, Developers, & End-Users!!! 5 Unit Free Market Apartment Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R5 Zoning, High 8' Ceilings, Full Basement, Private Driveway & Garage, 6 Parking Spaces, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Elmhurst 2 Blocks Off Queens Blvd. Near The I-495 Woodhaven Blvd. Exit!!! The Property Is Situated Minutes From Queens Center & Rego Center!!! Neighbors Include Apple, Starbucks, Verizon, USPS, Target, Victoria's Secret, Walgreens, Adidas, Marshalls, Shake Shack, Burlington, White Castle, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!
Income:
1st Floor
Studio: $18,000 Ann.; M-M.
1 Br. Apt.: $24,000 Ann.; M-M.
2nd Floor
3 Br., 2 Bath Apt.: $54,000 Ann. (Available)
3rd Floor
Front (1 Br. Apt.): $22,800 Ann.; M-M.
Rear (1 Br. Apt.): $21,000 Ann.; M-M.
LL Unit.(1 Br. Apt.): $19,200 Ann.; M-M.
Garage: $8,500 Ann. (Available)
Pro Forma Gross Income: $167,500 Ann.
Expenses:
Gas: $3,200 Ann.
Electric: $1,400 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,800 Ann
Insurance: $3,263 Ann.
Taxes: $30,618 Ann.
Total Expenses: $41,531 Ann.
Net Operating Income (NOI): $125,969 Ann. (Pro Forma 6.46 Cap!!!)
Income:
1st Floor
Studio: $18,000 Ann.; M-M.
1 Br. Apt.: $24,000 Ann.; M-M.
2nd Floor
3 Br., 2 Bath Apt.: $54,000 Ann. (Available)
3rd Floor
Front (1 Br. Apt.): $22,800 Ann.; M-M.
Rear (1 Br. Apt.): $21,000 Ann.; M-M.
LL Unit.(1 Br. Apt.): $19,200 Ann.; M-M.
Garage: $8,500 Ann. (Available)
Pro Forma Gross Income: $167,500 Ann.
Expenses:
Gas: $3,200 Ann.
Electric: $1,400 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,800 Ann
Insurance: $3,263 Ann.
Taxes: $30,618 Ann.
Total Expenses: $41,531 Ann.
Net Operating Income (NOI): $125,969 Ann. (Pro Forma 6.46 Cap!!!)
Location
State NY
County Queens
Rooms
Basement Full
Interior
Heating Natural Gas
Cooling Individual Units
Fireplace No
Exterior
Utilities Available See Remarks
Building
Sewer Public Sewer
Water Public
Structure Type Brick,Frame
Others
Special Listing Condition None
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Listed by All Island Estates Realty Corp