30-60 44Th St Queens, NY 11103
- Apartment buildings
- 5,712 SF
Current Use by Public Records
- Apartment buildings
Property Details for 30-60 44Th St
- Year built
- 1928
- Property size
- 5,712 SF
- Property type
- Apartment buildings
Description
This exceptional six-unit apartment building, located at 30-60 44th Street in Queens, New York (zip code 11103), presents a compelling value-add investment opportunity. Built in 1928 and extensively renovated in 2019, the property boasts 5,712 square feet and sits on a R5 zoned lot. Currently operating at a 95% occupancy rate, the building generates a substantial net operating income (NOI) of $268,259, yielding an attractive 7.45% cap rate. The asking price is $3,600,000. This Class C multifamily property offers a strong cash flow and significant potential for future appreciation. The six units provide a stable income stream, and the recent renovations ensure the building is well-maintained and attractive to tenants. This free-market property is ideally situated in a vibrant Queens neighborhood, offering investors a rare chance to acquire a high-performing asset with considerable upside potential. The property's strong financials, combined with its prime location and recent renovations, make it an ideal investment for both seasoned and emerging real estate investors seeking a stable and profitable venture. This is a truly remarkable opportunity to acquire a cash-flowing asset in a rapidly appreciating market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9132
- Latitude
- 40.761
