11-30 Mcbride St Queens, NY 11691
- Apartment buildings
- 9,275 SF
Current Use by Public Records
- Apartment buildings
Property Details for 11-30 Mcbride St
- Year built
- 2023
- Property size
- 9,275 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a newly constructed, three-building multifamily property in the desirable Far Rockaway neighborhood of Queens, New York. Completed in 2023, the property comprises 9 free-market units, offering a mix of four 4-bedroom, four 3-bedroom, and one 2-bedroom apartments. The total square footage is 9,275, spread across three 3-story semi-attached buildings situated on three lots totaling 9,045 square feet. The property boasts a desirable R5 zoning classification and is conveniently located within a qualified opportunity zone, presenting significant tax advantages. The asking price is $3,975,000, translating to $441,667 per unit and $428.57 per square foot. A projected cap rate of 9% is anticipated. The property is currently vacant and the seller anticipates obtaining a Temporary Certificate of Occupancy by the end of 2023. Its proximity to the Far Rockaway A train subway station adds to its appeal. This is a rare chance to acquire a modern, high-yield multifamily asset in a rapidly growing market. The property offers immediate occupancy and strong potential for rental income.
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
- -73.7575
- Latitude
- 40.6051
