Skillman Avenue Multifamily Investment
For Sale
$1,400,000
Pending
5201 Skillman Ave, Queens, NY 11377
Six-unit apartment building near the 7 train with parking.
Property Size5,850 SF
Lot Size0.06 Acres
Days on Market167
Property Features for 5201 Skillman Ave
General Information
Standard status
Pending
Size
5,850 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,661
Building Details
Building Size
5,850 SF
Year Built
1924
Units
6
Listing Agency:
Listed By:
Robert J. Swiderski
(917) 623-8874
Source:
Elliman
Added: Mar 11
Changed: Aug 18
Last Checked: Aug 23 at 9:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Robert J. Swiderski
Investment Insights
Based on property information with market context.
This six-family walk-up building, featuring a two-car parking lot, is situated on the corner of Skillman Avenue and 52nd Street, bordering Woodside and Sunnyside. The property has been under the same ownership for over 30 years and professionally managed since 2022. Located one block from the 7 train, the building presents an investment opportunity. All apartments have a box layout with three bedrooms and one bathroom, and are fully occupied with tenants who have leases. The property is intended for investment purposes, with no apartments expected to be vacant at closing. The building includes five rent-stabilized apartments and one rent-controlled apartment. The current total income is $10,330.83. The 2026 Proforma Rent Roll, after a 4.5% increase for all apartments and parking rent, is projected to be $12,400. Yearly expenses, including common area electric, water, heat, insurance, property tax, and repairs, are approximately $50,000 per year, which includes a $5,550 SCRIE Credit.
Key Highlights
- 7% Cap Rate based on current income and asking price.
- Prime location: Woodside/Sunnyside border, 1 block from the 7 train.
- Fully occupied with all tenants having leases and paying on time with no arrears.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building near the 7 train with parking.
Where is this apartment building located?
The property is located at 5201 Skillman Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7% Cap Rate based on current income and asking price.; Prime location: Woodside/Sunnyside border, 1 block from the 7 train.; Fully occupied with all tenants having leases and paying on time with no arrears.
