20-07 49Th St Queens, NY 11105

Property Details for 20-07 49Th St

Year built

2005

Property type

Commercial real estate

Description

This exceptional three-unit multifamily property in Astoria Heights, Queens presents a compelling investment opportunity. Located at 20-07 49th St, 11105, this semi-detached brick home boasts a desirable location and features a private driveway. The property, built in 2005, comprises three stories and offers a total of 13 rooms, including six bedrooms and three full bathrooms. The building encompasses 3,065 square feet of net rentable space, situated on a 2,642 square foot lot (42' x 62'). The building itself measures 28' x 41'. The property is zoned R4, providing flexibility for future development or renovations. The current asking price is $1,699,000, representing a price per unit of $566,333.33. The property generates a Net Operating Income (NOI) of $39,994, resulting in a 2.35% capitalization rate. Estimated annual expenses include property taxes ($9,237), water/sewer ($2,464.58), insurance ($2,039), and electricity ($5,414). While the current gross income is estimated at $59,100, tenants are in place and willing to stay, offering the potential for increased rental income. This property is being offered as an investment opportunity only. All offers will be considered.