8620 57th Rd Elmhurst, NY 11373

Calling All Investors, Developers, & End-Users!!! 5 Unit Free Market Apartment Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R5 Zoning, High 8’ Ceilings, Full Basement, Private Driveway & Garage, 6 Parking Spaces, Separate Meters, 200 Amp Power, All New L...ED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Elmhurst 2 Blocks Off Queens Blvd. Near The I-495 Woodhaven Blvd. Exit!!! The Property Is Situated Minutes From Queens Center & Rego Center!!! Neighbors Include Apple, Starbucks, Verizon, USPS, Target, Victoria’s Secret, Walgreens, Adidas, Marshalls, Shake Shack, Burlington, White Castle, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!! Income: 1st Floor Studio: $18,000 Ann.; M-M. 1 Br. Apt.: $24,000 Ann.; M-M. 2nd Floor 3 Br., 2 Bath Apt.: $54,000 Ann. (Available) 3rd Floor Front (1 Br. Apt.): $22,800 Ann.; M-M. Rear (1 Br. Apt.): $21,000 Ann.; M-M. LL Unit.(1 Br. Apt.): $19,200 Ann.; M-M. Garage: $8,500 Ann. (Available) Pro Forma Gross Income: $167,500 Ann. Expenses: Gas: $3,200 Ann. Electric: $1,400 Ann. Maintenance & Repairs: $250 Ann. Water & Sewer: $2,800 Ann Insurance: $3,263 Ann. Taxes: $30,618 Ann. Total Expenses: $41,531 Ann. Net Operating Income (NOI): $125,969 Ann. (Pro Forma 6.46 Cap!!!) Continue reading