5201 Skillman Ave - Apartments FOR SALE


Woodside, NY 11377
$1,400,000 USD
917-623-8874
5201 Skillman Ave, Woodside, NY for Sale
$1,400,000 USD
Apartments - FOR SALE
1/5
null | 7% Cap Rate

5201 Skillman Ave
Woodside, NY 11377


HIGHLIGHTS

  • 2 Car Parking Lot.
  • Building in great condition, new boiler, no violations.
  • All Tenants Pay On Time.
  • Desirable Sunnyside/Woodside location, just 1 block to the 7 train.
  • Building has been owned and "babied" by the same owner for 30+ years.

OVERVIEW

6 Family walk-up with 2 car parking lot in great condition, located on the corner of Skillman Ave and 52nd St on the Woodside/Sunnyside border. The total current income is $124,000. Total proforma income is $155,850. The total current expenses are about $55,000. The owner is not currently renting the 2 parking spaces or 6 storage cages in the basement. The proforma income was calculated based on renting the parking for $400 a month per spot, $100 a month per each of the 6 storage cages, and the approved 4.5% increase to 5 of the aparmtents in 2026, starting in January and February. The building has been "babied" by the same owner for 30+ years and professionally managed since 2022. The buildng is in greate condition, has no violatons, and is located 1 block away from the 7 train. All of the apartments are rented with leases, everyone pays ontime, and this trully is a great opportunity for any investor. Keep the current management company in place to create a true hands-off, passive income, revenue stream! The yearly expenses for the past 12 months include a new water heater, common area electric, water, heat, insurance, property tax, and repairs. With net income of almost 100K a year, the asking price of $1,400,000 = a cap rate of just over 7%!

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$246 USD /SF

# OF UNITS

6

PRICE/UNIT

$233,333

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,717 SF

ZONING

C2

APN/PARCEL ID

01238-0005

ASK ABOUT THIS PROPERTY

Robert SwiderskiRealTegrityMore Info
917-623-8874

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Robert SwiderskiRealTegrityMore Info
917-623-8874

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