144-45-144-47 37th Ave - Apartments FOR SALE


Flushing, NY 11354- Murray Hill
$3,718,000 USD
516-587-9113
144-45-144-47 37th Ave, Flushing, NY for Sale
$3,718,000 USD
Apartments - FOR SALE
1/15
null | 4.98% Cap Rate

144-45-144-47 37th Ave
Flushing, NY 11354
Murray Hill


HIGHLIGHTS

  • Rare 16-Unit Multifamily Portfolio in the highly desirable Murray Hill section of Flushing
  • 16 Residential Units: 8 One-Bedroom / One-Bath + 8 Two-Bedroom / One-Bath Apartments
  • Lot Size: Approx. 50' × 112' / Combined Building Area: Approx. 11,970 SF / 10 On-Site Parking Spaces – a valuable amenity in the Flushing market
  • Annual Gross Rental Income: Approx. $350,000 / Annual Operating Expenses: Approx. $165,000 / Net Operating Income (NOI): Approx. $185,000
  • Separate Boilers, Electric & Gas Meters for efficient building operations / Tenants Pay Their Own Utilities, helping control owner operating expense
  • Close to Downtown Flushing, shopping, supermarkets, restaurants, banks, Murray Hill LIRR, Flushing-Main St 7 Train, and everyday amenities

OVERVIEW

Exceptional 16-Unit Multifamily Investment Opportunity in Murray Hill, Flushing. Rare opportunity to acquire 144-45 & 144-47 37th Avenue, two adjacent brick buildings offered together as a 16-unit multifamily portfolio. Situated on an approximately 50' x 112' lot with a combined building size of approximately 11,970 SF, the property consists of 8 one-bedroom/one-bath units, 8 two-bedroom/one-bath units, and 10 on-site parking spaces. The property generates approximately $350,000 in annual gross rental income with annual operating expenses of approximately $165,000, resulting in a Net Operating Income (NOI) of approximately $185,000. Each building has separate boilers, electric and gas meters, and tenants pay their own utilities, providing efficient operations and strong cash flow. Ideally located in the highly desirable Murray Hill section of Flushing, just minutes from the Murray Hill LIRR Station and the Flushing–Main Street 7 subway station, with convenient access to Downtown Flushing's shopping, restaurants, supermarkets, banks, and everyday amenities. A rare opportunity to acquire a stabilized, income-producing multifamily asset in one of Queens' strongest rental markets. Ideal for investors seeking stable cash flow, long-term appreciation, portfolio expansion, a potential condominium conversion (subject to approvals), or a 1031 Exchange.

FOR SALE DETAILS

PRICE

$3,718,000 USD

PRICE/SF

$294 USD /SF

# OF UNITS

16

PRICE/UNIT

$232,375

CAP RATE

4.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2001

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

R6

APN/PARCEL ID

05014-0076,05014-0077

ASK ABOUT THIS PROPERTY

Fei GuoSkylux Realty, IncMore Info
516-587-9113

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Fei GuoSkylux Realty, IncMore Info
516-587-9113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.