35-34 94 StQueens, NY 11372

Property Details for 35-34 94 St

Year built

1930

Property size (Sq ft)

14,960 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 16-unit apartment building located at 35-34 94th St, Queens, NY 11372. The property, built in 1930, boasts a total of 14,960 square feet, with 13,500 square feet of net rentable space across four stories. Currently operating at 100% occupancy, this Class C multifamily building generates a substantial net operating income (NOI) of $101,007, resulting in a compelling 3.37% capitalization rate. The asking price is $3,000,000. Situated on a 4,500 square foot lot, the property is zoned R6A. The building's strong financial performance is further highlighted by a gross income of $261,181 and expenses of $160,174 (tenants are responsible for their own utilities). This presents a rare chance to acquire a stable, high-performing asset in the desirable Jackson Heights neighborhood of Queens. The building's solid construction and consistent occupancy make it an attractive investment for both seasoned and emerging real estate investors seeking a strong return on investment. The property's location offers easy access to public transportation and various amenities.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7519

Longitude

-73.8736

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