Remarks

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!!!)

Details

MLS#: 831434
Price: $1,799,000

Style: Multi Family
Sq Ft: 2142
Year Built: 1986

County: Queens
Tax Fee: 30618