3743 59Th StWoodside, NY 11377

Property Details for 3743 59Th St

Year built

1965

Lot size

0.06 AC

Property size (Sq ft)

4,860 SF

Zone code

R5B

Property type

Apartment buildings

APN

01214-0030

APU

12140030

Description

This exceptional investment opportunity presents a well-maintained seven-unit apartment building located at 3743 59th Street in the vibrant Woodside neighborhood of Queens, New York. The property sits on a 0.06-acre lot and boasts a substantial 4,860 square feet of living space. The building's income stream is comprised of six rent-stabilized units and one free-market unit, offering a blend of predictable income and potential for future rent increases. This configuration provides a solid foundation for long-term investment growth and stability. The property's location in Woodside offers easy access to public transportation, making it highly attractive to renters. The building's current condition suggests minimal immediate capital expenditures are required, allowing for immediate cash flow. This presents a rare chance to acquire a well-positioned multifamily property in a desirable area with a proven rental history. The asking price of $2,199,000 reflects the property's strong potential for return on investment. Serious inquiries are encouraged to explore this lucrative opportunity further. Detailed financial statements and property reports are available upon request. This is an ideal acquisition for seasoned investors seeking a stable and profitable addition to their portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $996,344

  6.5%

  $919,702

  7%

  $854,009

• Comparable approach

  Method

  Valuation

  Relative Method

  $984,262

  Geo Method

  $984,262

• Alternative Use

  Use

  Valuation

  Residential

  $919,702

  Hospitality

  $842,442

  Educational

  $700,902

  Medical

  $725,007

  Retail

  $1,090,292

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.7487

Longitude

-73.9037

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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