85-20 Elmhurst Ave Queens, NY 11373

This exceptional six-story, 47,846 square foot apartment building at 85-20 Elmhurst Avenue in Queens, New York, presents a compelling investment opportunity. Boasting 53 units, this property offers a strong cash flow with a Net Operating Income (NOI) of $504,945 and a cap rate of 6.76%. The asking price is $7,475,000, translating to $156.23 per square foot and $141,037.74 per unit. Built in 1940, the building is situated on a R7B zoned lot and is currently 100% occupied. The large floor plans and extremely well-maintained condition are key features. This is a first-time sale by the original owners, providing a rare chance to acquire a stable, high-performing multifamily asset in a desirable location. The property's central location in Elmhurst, Queens, within Queens County, New York (zip code 11373) ensures strong tenant demand. This is an ideal opportunity for investors seeking a proven, income-generating property with significant upside potential.