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    140-27 183Rd St Springfield Gardens, NY 11413

    Sponsored
    For Sale
    $449,000

    Two-unit apartment building, strong ROI.

    Property size:
    2,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a two-unit apartment building situated in the desirable Springfield Gardens/Rochdale neighborhood of Queens, New York. The property, located at 140-27 & 140-29 183rd Street, boasts a total of 2,700 square feet, encompassing two 2-bedroom units spread across two stories. Built in 1950, this property includes a full basement and a backyard, adding to its appeal. Both units are rent-stabilized, providing a stable income stream. The asking price is $449,000, representing a compelling price per square foot of $166.30 and a 4.91% capitalization rate, with a Net Operating Income (NOI) of $22,057.32. The property is zoned R3-2. Its convenient location offers easy access to the Belt Parkway and Long Island Railroad, ensuring excellent commuting options. Residents enjoy proximity to numerous shopping centers, including supermarkets, banks, gyms, and restaurants. Furthermore, the property's close proximity to JFK Airport enhances its desirability. This is a rare chance to acquire a well-located, income-producing multifamily property in a thriving Queens neighborhood.

    Property Features for 140-27 183Rd St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,700 SF

    Building Details

    Year Built
    1950
    Stories
    2
    Units
    2

    HighLights

    • Exceptional investment opportunity: Two‑unit apartment building in desirable Springfield Gardens/Rochdale, Queens.
    • 2,700 sq ft building with two 2‑bedroom units, full basement, and backyard.
    • Rent‑stabilized units provide stable income.
    • Asking price: $449,000; $166.30/sq ft; 4.91% cap rate; $22,057.32 NOI.
    • R3‑2 zoning; Convenient to Belt Parkway, LIRR, shopping, and JFK Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield Gardens
    County
    Queens
    State
    New York
    Longitude
    -73.7606794
    Latitude
    40.6714818

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit apartment building, strong ROI.
    Where is this multifamily property located?
    The property is located at 140-27 183Rd St Springfield Gardens, NY.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: Two-unit apartment building in desirable Springfield Gardens/Rochdale, Queens.; 2,700 sq ft building with two 2-bedroom units, full basement, and backyard.; Rent-stabilized units provide stable income.
    Request Owner's contact information
    140-27 183Rd St Springfield Gardens, NY 11413
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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
    140-27 183Rd St Springfield Gardens, NY 11413
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