8625 59th Ave - Apartments FOR SALE


Elmhurst, NY 11373
$2,500,000 USD
516-279-8828
8625 59th Ave, Elmhurst, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

8625 59th Ave
Elmhurst, NY 11373


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 100% Occupied 5 Unit Free Market Apartment Building With Private Garage In Flushing For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, R6B Zoning, Private 2 Car Garage, Private Driveway, 6 Parking Spaces, Rear Yard, +++!!!
  • Located In The Heart Of Elmhurst Right Near The Queens Center Mall Situated Between I-495 (L.I.E.), Woodhaven Blvd., & Queens Blvd.!!!
  • Neighbors Include Citibank, Bank of America, T-Mobile, Costco, Target, Macy’s, Retro Fitness, Applebee’s Bar & Grill, The Cheesecake Factory, +++!!!
  • This Property Offers HUGE Upside Potential!!!
  • This Could Be Your Next Development Site Or The Next Home For Your Business!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 100% Occupied 5 Unit Free Market Apartment Building In Flushing For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, (1) 5 Br. Apartment, (1) 3 Br. Apartment, (2) 2 Br. Apartments, (1) 1 Br. Apartment, Basement, Rear Yard, Private 2 Car Garage, Private Driveway, 6 Parking Spaces, High 8’ Ceilings, 200 Amp Power, Updated Electrical Wires & Panels, New Boiler Installed In 2023, A/C, +++!!! The Property Is Located In The Heart Of Elmhurst Right Near The Queens Center Mall!!! The Property Is Situated Between I-495 (L.I.E.), Woodhaven Blvd., & Queens Blvd.!!! Neighbors Include Citibank, Bank of America, T-Mobile, Costco, Target, Macy’s, Retro Fitness, Applebee’s Bar & Grill, The Cheesecake Factory, Shake Shack, Olive Garden, Popeye’s Louisiana Kitchen, Quest Diagnostics, Walgreens, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: LL (3 Br. Apt.): $30,000 Ann.; M-M. 1st Fl. (5 Br. Apt.): $48,000 Ann.; M-M. 2nd Fl. (Front 1 Br. Apt. ): $14,700 Ann.; M-M. 2nd Fl. (Rear 2 Br. Apt.): $29,160 Ann.; M-M. 3rd Fl. (2 Br. Apt.): $27,000 Ann.; M-M. 2 Car Garage: $2,400 Ann. 1 Car Parking: $1,800 Ann. 1 Car Parking: $1,800 Ann. 1 Car Parking: $1,200 Ann. Gross Income: $156,060. Ann. Expenses: Oil: $8,000. Ann. Electric: $2,070. Ann. (Hallway & Boiler Only) Water & Sewer: $2,543. Ann Insurance: $3,568. Ann. Snow & Landscaping: $0 Ann. Maintenance: $2,500. Ann. Taxes: $17,746. Ann. Total Expenses: $36,427. Ann. Net Operating Income (NOI): $119,633. Ann.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$538 USD /SF

# OF UNITS

5

PRICE/UNIT

$500,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

R6B

APN/PARCEL ID

02872-0043

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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Matthew ShaneAll Island CommercialMore Info
516-279-8828

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