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$ 1,299,000
Est. payment | /mo
2,500 Sqft Lot
$ 1,299,000
Est. payment | /mo
2,500 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1016032
Rental Info No
Year Built 1930
Annual Tax Amount $24,233
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
**Updated Cap Rate Calculation**
* Annual Gross Income: **$125,741**
* Annual Expenses: **$46,487**
* Net Operating Income (NOI): **$79,254**
* Asking Price: **$1,299,000**
**Cap Rate = NOI ÷ Purchase Price × 100**
**$79,254 ÷ $1,299,000 = 6.10% Cap Rate**
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### Property Remarks
Exceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.
* Annual Gross Income: **$125,741**
* Annual Expenses: **$46,487**
* Net Operating Income (NOI): **$79,254**
* Asking Price: **$1,299,000**
**Cap Rate = NOI ÷ Purchase Price × 100**
**$79,254 ÷ $1,299,000 = 6.10% Cap Rate**
---
### Property Remarks
Exceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.
Location
State NY
County Queens
Rooms
Basement Full, Unfinished, Walk-Out Access
Interior
Heating Oil
Cooling None
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Queens 27
School District Queens 27
Others
Special Listing Condition None
Listed by Elite Realty of USA Inc • Chandar Persaud
Nearby Locations
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Jeffrey Jimenez
Licensed Real Estate Salesperson | License ID: 10401267947