Property Details

Overview

Calling All Investors, Developers & End-Users!!! 100% Occupied 12 Family Building Package For Sale!!! The Buildings Feature Excellent Signage, Great Exposure, Strong R7A Zoning, High 10’ Ceilings, Security System, Yard, Fenced Lot, 6 Parking Spaces, 200 Amp Power, All New LED Lighting, A/C In Every Unit, +++!!! The Property Is Located In The Heart Of Elmhurst Just Off Broadway Only Minutes From Queens Center!!! Neighbors Include Apple, TD Bank, Adidas, Costco, Target, 7-Eleven, Dunkin’, Walgreens, Planet fitness, Cold Stone Creamery, Raymour & Flanigan, Mattress Firm, Macy’s, Shack Shack, Dollar Tree, Liberty Tax, McDonald’s, White Castle, Subway, +++!!! As Per The Seller Each Building Has An Additional 5, 000 Sqft. Of Air Rights!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Make A Nice Addition To Your Portfolio!!! Income: 42-20 82nd St.: Unit 1A: $18, 581.88 Ann. Lease Exp.: 10/31/24 . Unit 1B: $20, 582.76 Ann. Lease Exp.: 10/31/24. Unit 2A: $24, 084.96 Ann. Lease Exp.: 10/31/25. Unit 2B: $22, 520.40 Ann. Lease Exp.: 10/31/25. Unit 3A: $21, 041.40 Ann. Lease Exp.: 3/31/25. Unit 3B: $21, 199.20 Ann. Lease Exp.: 10/31/24. 42-22 82nd St.: Unit 1A: $11, 521.32 Ann. Lease Exp.: 12/31/24. Unit 1B: $14, 265.36 Ann. Lease Exp.: 10/31/25. Unit 2A: $27, 121.56 Ann. Lease Exp.: 12/31/24. Unit 2B: $27, 000 Ann. Unit 3A: $19, 966.68 Ann. Lease Exp.: 10/31/24. Unit 3B: $25, 800 Ann. Lease Exp.: 4/30/24. Total Rental Income: $253, 685.52 Ann. Expenses: Heating: $29, 987 Ann. Insurance: $12, 713.88 Ann. Water & Sewer: $14, 583.18 Ann. Taxes: $49, 376.98 Ann. Total Expenses: $106, 661.04 Ann. Gross Income: $253, 685.52 Ann. Net Operating Income (NOI): $147, 024.48 Ann. , or