11-30 Mcbride StQueens, NY 11691

Property Details for 11-30 Mcbride St

Year built

2023

Property size (Sq ft)

9,275 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a newly constructed, three-building multifamily property in the desirable Far Rockaway neighborhood of Queens, New York. Completed in 2023, the property comprises 9 free-market units, offering a mix of four 4-bedroom, four 3-bedroom, and one 2-bedroom apartments. The total square footage is 9,275, spread across three 3-story semi-attached buildings situated on three lots totaling 9,045 square feet. The property boasts a desirable R5 zoning classification and is conveniently located within a qualified opportunity zone, presenting significant tax advantages. The asking price is $3,975,000, translating to $441,667 per unit and $428.57 per square foot. A projected cap rate of 9% is anticipated. The property is currently vacant and the seller anticipates obtaining a Temporary Certificate of Occupancy by the end of 2023. Its proximity to the Far Rockaway A train subway station adds to its appeal. This is a rare chance to acquire a modern, high-yield multifamily asset in a rapidly growing market. The property offers immediate occupancy and strong potential for rental income.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.6051

Longitude

-73.7575

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