20-Unit Multifamily Portfolio | 60% FM Multi-Family FOR SALE


Sunnyside, NY
$4,799,000 USD
718-422-2932
, Sunnyside, NY for Sale
$4,799,000 USD
Multi-Family - FOR SALE
1/16
null | 7.77% Cap Rate

20-Unit Multifamily Portfolio | 60% FM
Sunnyside, NY


HIGHLIGHTS

  • 12 Free Market Units
  • 17 Renovated Units
  • 2 Gut Renovated Units
  • New Boiler
  • Family owned since the 1960's
  • Extensive capital improvements

OVERVIEW

TWO CONTIGUOUS MULTIFAMILY BUILDINGS | 20 UNITS | 60% FREE MARKET 12 Free Market Units (60%) 6 Vacant Units (4 FM, 2 RS) 17 Renovated Apartments 2 Newly Constructed Units Family-Owned Since Early 1960s One Block from the 7 Train Prime Sunnyside Location Significant Lease-Up Opportunity New Boiler Extensive Capital Improvements The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train. Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance. The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential. The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market. The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units. Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.

ASK ABOUT THIS PROPERTY

Vincent PreziosoThe Corcoran GroupMore Info
718-422-2932

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

Vincent PreziosoThe Corcoran GroupMore Info
718-422-2932

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