140-27 183Rd StSpringfield Gardens, NY 11413

Property Details for 140-27 183Rd St

Year built

1950

Property size (Sq ft)

2,700 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a two-unit apartment building situated in the desirable Springfield Gardens/Rochdale neighborhood of Queens, New York. The property, located at 140-27 & 140-29 183rd Street, boasts a total of 2,700 square feet, encompassing two 2-bedroom units spread across two stories. Built in 1950, this property includes a full basement and a backyard, adding to its appeal. Both units are rent-stabilized, providing a stable income stream. The asking price is $449,000, representing a compelling price per square foot of $166.30 and a 4.91% capitalization rate, with a Net Operating Income (NOI) of $22,057.32. The property is zoned R3-2. Its convenient location offers easy access to the Belt Parkway and Long Island Railroad, ensuring excellent commuting options. Residents enjoy proximity to numerous shopping centers, including supermarkets, banks, gyms, and restaurants. Furthermore, the property's close proximity to JFK Airport enhances its desirability. This is a rare chance to acquire a well-located, income-producing multifamily property in a thriving Queens neighborhood.

Location Insight

City

Springfield Gardens

County

Queens

State

New York

Latitude

40.6715

Longitude

-73.7607

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