Description

Queens Village corner legal four-family semi-attached house, fully rented with excellent paying tenants. Renovated top to bottom within the last five years, the property features one three-bedroom apartment, two two-bedroom apartments, one one-bedroom apartment, plus an accessory unit. Sitting on a 20.17 ft. x 106 ft. lot with a 20 ft. x 72 ft. building size in an R3-2 zone, this investment offers strong income potential with a yearly rent roll of $154,344, low annual expenses of $26,485, and a net operating income of $141,540—yielding a solid 7.67% cap rate with upside for added value. Recent upgrades include a new roof (updated last year), three new water heaters, brand-new windows throughout, updated gas boiler and water heater, new sidewalk, sewer line, and stucco completed two years ago. The property is delivered occupied with paying tenants, with one unit vacant for immediate rental opportunity. Additional features include private rear parking and a full basement. Conveniently located near Jamaica Avenue, shopping, and public transportation, this is a turnkey investment with no violations, offered in clean, as-is condition.