142-27 Barclay AveFlushing, NY 11355

Property Details for 142-27 Barclay Ave

Property size (Sq ft)

40,991 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This six-story, 40,991 square foot apartment building in Flushing, Queens, presents a compelling investment opportunity. The property boasts 50 fully occupied units, generating a substantial net operating income (NOI) of $772,445 and a 5.18% capitalization rate. Asking price is $14,900,000, representing a fee simple ownership. The building's strong performance is further enhanced by additional income from an on-site garage. Located in a thriving neighborhood with excellent transportation links, including easy access to Manhattan, this property benefits from a diverse tenant base and strong market fundamentals. The current occupancy provides immediate and stable cash flow, while the potential for rental increases offers significant upside. Flushing's vibrant community, diverse economy, and proximity to amenities contribute to its long-term growth potential, making this a highly attractive investment. The property's location offers residents convenient access to public transportation, shopping, dining, and cultural attractions. This well-maintained building represents a rare opportunity to acquire a stable, high-performing asset in a prime Queens location.

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.759

Longitude

-73.8246

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