168-05 Depot Rd Flushing, NY 11354

Property Details for 168-05 Depot Rd

Year built

2017

Property size

5,916 SF

Property type

Apartment buildings

Description

This exceptional 2017-built, four-story apartment building in Flushing, Queens, presents a lucrative investment opportunity. Boasting 5,916 square feet of net rentable space across seven units (three two-bedroom and four one-bedroom apartments), this property offers a compelling price per square foot of $691.16 and a price per unit of $584,126.86. The building features high-end finishes and top-of-the-line appliances, enhancing its appeal to tenants. Residents enjoy the convenience of in-basement laundry facilities and six on-site parking spaces. Situated on a 3,342 square foot lot, the property benefits from a 35-year tax abatement, significantly reducing operating costs. Tenants are responsible for their own utilities. The property's prime location directly across from the Broadway LIRR train station and one block from Northern Boulevard ensures high occupancy and strong rental demand. The building generates a substantial gross annual income of $206,760, with total yearly expenses amounting to $16,913. This multifamily investment offers a blend of attractive features, strong financial performance, and a highly desirable location, making it an ideal addition to any portfolio. The property is zoned R5D.