140-27 183Rd St Springfield Gardens, NY 11413
- Apartment buildings
- 2,700 SF
Current Use by Public Records
- Apartment buildings
Property Details for 140-27 183Rd St
- Year built
- 1950
- Property size
- 2,700 SF
- Property type
- Apartment buildings
Description
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.
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
- Springfield Gardens
- County
- Queens
- State
- New York
- Longitude
- -73.7607
- Latitude
- 40.6715
