Remarks

Calling All Investors, Developers, & End-Users!!! 8 Unit Apartment Building In Long Island City For Sale!!! The Property Features Excellent Signage, Great Exposure, M3-1 Zoning, High 8’ Ceilings, (8) 2 Br. Apartments, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Ravenswood Only A Few Blocks From The Ed Koch Queensboro Bridge Offering Direct Easy Access To Manhattan!!! Neighbors Include Hilton Hotels, Marriott Hotels, Wyndham Hotels, Dodge-Jeep-Ram, Honda. T-Mobile, The Home Depot, CubeSmart Self Storage, Best Buy, Dunkin’, Planet Fitness, Marshalls, Michaels, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site/The Next Home For Your Business!!!



Income:



Unit 1 (2 Br., 1 Bath): $24,030 Ann.



Unit 2 (2 Br., 1 Bath): $23,620 Ann.



Unit 3 (2 Br., 1 Bath): $23,400 Ann.



Unit 4 (2 Br., 1 Bath): $17,383 Ann.



Unit 5 (2 Br. 1 Bath): $26,680 Ann.



Unit 6 (2 Br., 1 Bath): $26,823 Ann.



Unit 7 (2 Br., 1 Bath): $24,800 Ann.



Unit 8 (2 Br, 1 Bath): $26,861 Ann.



Current Gross Income: $193,597 Ann.



Expenses:



Oil: $8,098.47 Ann.



Electric: $720 Ann. (Common Area Only)



Maintenance & Repairs: $250 Ann.



Insurance: $4,044.41 Ann.



Taxes: $19,750 Ann.



Water: $5,322 Ann.



Total Expenses: $38,184.88 Ann.



Net Operating Income (NOI): $155,412.12 Ann. (7.23% Cap!!!)





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Details

MLS#: L3593358
Price: $2,150,000

Style: Retail
Baths Half: 0
Sq Ft: 7000
Year Built: 1941

County: Queens
Lot Size: 25x100.92
Tax Fee: 19750