20-03 49Th St Queens, NY 11105
- Commercial real estate
- 3,800 SF
Current Use by Public Records
- Commercial real estate
Property Details for 20-03 49Th St
- Year built
- 2005
- Property size
- 3,800 SF
- Property type
- Commercial real estate
Description
This exceptional three-unit multifamily property in Astoria Heights, Queens presents a compelling investment opportunity. Situated on a 2,548 square foot lot (58' x 43'), this semi-detached brick home boasts a total of 13 rooms, including 6 bedrooms and 3 full bathrooms, spread across 4,065 square feet. Built in 2005, the three-story building features a desirable R 5 zoning designation. The property generates a substantial net operating income (NOI) of $62,113, resulting in a 3.66% cap rate at an asking price of $1,699,000. This translates to a price per unit of $566,333.33. The first-floor apartment is currently available for immediate occupancy. The property's strong rental income is further enhanced by the high demand for rental units in this area, with existing tenants eager to renew their leases at market rates. The estimated annual expenses include property taxes ($9,243), water/sewer ($1,711.09), insurance ($2,039), and electricity ($5,194). The property's net rentable area is 3,200 square feet. This investment opportunity is ideal for those seeking a stable and profitable addition to their portfolio. The property's location and features make it an attractive proposition for both investors and owner-occupants.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.896
- Latitude
- 40.7721
