Description
Semi-detached all brick 3 unit mixed use building in prime area of East Elmhurst, Queens. Building is approximately 19' x 64' on a 19.33 x 100 lot with R4-1 zoning. Second floor features two 2 bedroom apartments currently collecting $1,650/mo and $1,690/mo. Tenants are in good standing and pay on time every month. First floor features a newly renovated 1,200+ sq ft bar & restaurant with access to basement and access to backyard. Most recent lease reflects monthly rent of $6,320/mo. Lease has expired, will be delivered vacant. Projected Gross Operating Income: $115,920/yr or $9,660/mo. Projected Expenses: $16,148/yr (Taxes: $6,848 / Insurance: $3,300 / Heat: $3,600/yr / Water: $2,400/yr). Projected NOI: $99,772/yr. High cap rate with plenty of upside potential, in a high traffic area of East Elmhurst. Easy access to all units for private viewings.
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01/2 BATHS
School Ratings & Info
Description
Semi-detached all brick 3 unit mixed use building in prime area of East Elmhurst, Queens. Building is approximately 19' x 64' on a 19.33 x 100 lot with R4-1 zoning. Second floor features two 2 bedroom apartments currently collecting $1,650/mo and $1,690/mo. Tenants are in good standing and pay on time every month. First floor features a newly renovated 1,200+ sq ft bar & restaurant with access to basement and access to backyard. Most recent lease reflects monthly rent of $6,320/mo. Lease has expired, will be delivered vacant. Projected Gross Operating Income: $115,920/yr or $9,660/mo. Projected Expenses: $16,148/yr (Taxes: $6,848 / Insurance: $3,300 / Heat: $3,600/yr / Water: $2,400/yr). Projected NOI: $99,772/yr. High cap rate with plenty of upside potential, in a high traffic area of East Elmhurst. Easy access to all units for private viewings.
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