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    99-02 212 St Queens, NY 11429

    Sponsored
    For Sale
    $1,500,000

    Five-unit apartment building, fully rented, great income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Queens investment opportunity presents a fully rented five-unit apartment building situated on a 20.17 ft x 106 ft lot. The building itself measures 20 ft x 72 ft and boasts a desirable R3-2 zoning classification. The property comprises five apartments: one three-bedroom unit, two two-bedroom units, and two one-bedroom units. This multifamily property has undergone a complete top-to-bottom renovation within the last five years, ensuring modern amenities and reduced maintenance needs. Currently generating a substantial monthly rental income of $7,000, this property is being sold as-is, occupied with paying tenants. The building consists of five units across two stories, and is a semi-attached corner property. This presents a strong cash flow opportunity for investors seeking a stable and profitable addition to their portfolio. The property's location in Queens, New York, at 99-02 212th Street, zip code 11429, offers convenient access to local amenities and transportation. The asking price for this lucrative investment is $1,500,000.

    Property Features for 99-02 212 St

    General Information

    Property type
    Multifamily properties

    Building Details

    Buildings
    5
    Stories
    2

    HighLights

    • $1,500,000 asking price for this multifamily investment opportunity.
    • Five‑building, two‑story apartment complex in Queens, NY.
    • R3‑2 zoning.
    • Fully rented with a $7,000 monthly rent roll.
    • Recently renovated (within the last 5 years).
    • Apartment mix: one 3‑bedroom, two 2‑bedroom, and two 1‑bedroom units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7469084
    Latitude
    40.7141814

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, fully rented, great income.
    Where is this multifamily property located?
    The property is located at 99-02 212 St Queens, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: $1,500,000 asking price for this multifamily investment opportunity.; Five-building, two-story apartment complex in Queens, NY.; R3-2 zoning.
    Request Owner's contact information
    99-02 212 St Queens, NY 11429
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    Queens, NY 11429
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    99-02 212 St Queens, NY 11429
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