Remarks

Prime Investment Property for Sale in Woodside, NY – A Rare Opportunity for Savvy Investors!

This exceptional 5-family + basement + 1 commercial space property, built in 2006, offers a stable and profitable investment in a prime location. Spanning 4 floors with 6 units, the 4,160 sq. ft. building (20X51) sits on a 1,700 sq. ft. lot (20X85.03), making it a highly desirable asset.

Strategically located just a 2-minute walk from the 7 train and a 6-minute walk to the E/F train, this property ensures high demand from both residential and commercial tenants. The building is fully rented with reliable tenants who consistently pay on time (payment records available), and there are no lease restrictions, allowing for potential rent increases of 3%-5% every 1-2 years.

Currently generating a total monthly rental income of $12,656 and an annual income of $151,872, this property presents an excellent return on investment. Tenants cover electricity and gas, while the landlord is responsible for water, which costs approximately $570 per quarter.

Rental Income Breakdown:
• Ground Floor Commercial Space + Basement: $4,031/month
• 2nd Floor Front Studio: $1,350/month
• 2nd Floor Rear 1-Bed, 1-Bath: $1,725/month
• 3rd Floor Front Studio: $1,350/month
• 3rd Floor Rear 1-Bed, 1-Bath: $1,900/month
• 4th Floor Rear 3-Bed, 2-Bath: $2,300/month (Market Rent: $2,800-$3,000)

With transparent expenses and tax benefits, property taxes after deductions range from $37,000 to $40,000 per year.

The building is equipped with 5 electric meters and 5 gas meters, ensuring efficient utility management. Additionally, it features 6 gas burners and 6 hot water boilers, providing reliable heating and hot water supply.

Meticulously maintained, clean, and in excellent condition, this investment property offers stable returns in a high-demand location, making it a perfect opportunity for investors seeking long-term growth and profitability.

Details

MLS#: 839589
Price: $2,280,000

Style: Multi Family
Sq Ft: 4160
Year Built: 2006

County: Queens
Tax Fee: 51541.52

School District: Queens24