20-61 49Th StQueens, NY 11105

Property Details for 20-61 49Th St

Year built

2005

Property type

Apartment buildings

Description

This exceptional 6-family apartment building presents a compelling investment opportunity in the desirable Astoria Heights neighborhood of Queens, New York. Built in 2005, this three-story, semi-detached brick building boasts a spacious 5,088 square feet on a 4,200 square foot lot (40' x 105'). The property features 11 bedrooms and 6 full bathrooms across 28 rooms, currently enjoying 100% occupancy. The building offers a private driveway and is zoned R4. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $100,000, resulting in a 4.08% capitalization rate. The estimated annual expenses include $36,000 in property taxes, approximately $2,743.63 for water/sewer, $4,631.85 for insurance, and $2,734 for electricity, totaling approximately $46,210. The gross annual income is $146,900. This well-maintained property offers a solid return on investment with the potential for increased income through market-rate rent adjustments. The building features separate hot water heaters and a beautifully maintained hallway. All offers will be considered

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7711

Longitude

-73.8976

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