5630 61st St Flushing, NY 11378-2401
Property profile & analytics
5630 61st St Flushing, NY 11378-2401
- Apartment buildings
- 3,375 SF
- 0.06 lot acres
Property ID
US63-3204235
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 5630 61st St
- Year built
- 1915
- Lot size
- 0.06 lot acres
- Property size
- 3,375 SF
- Zone code
- R4
- Property type
- Apartment buildings
- APN
- 02704-0072
- APU
- 27040072
Description
This fully renovated corner brick building presents a unique investment opportunity in the heart of Maspeth, NY. The property boasts a substantial 25 ft x 100 ft footprint and generates immediate cash flow through five well-maintained residential units. Currently, the building comprises four two-bedroom apartments and one four-bedroom apartment, commanding monthly rents of $2,941, $3,146, $2,959, $3,141, and $4,200 respectively. Approved plans are in place to develop additional parking spaces in the rear yard, offering significant potential for increased income and enhanced tenant appeal. This presents a compelling opportunity for investors seeking a strong return on investment in a desirable location. The building's prime corner location ensures high visibility and accessibility. The property is offered at $2,500,000. Note that this property can be purchased as part of a larger package deal that includes a neighboring property at 60-41 56th Rd. This presents a rare chance to acquire a substantial portfolio in a thriving commercial area. The existing rental income provides a solid foundation for future growth and potential appreciation. Serious inquiries are encouraged.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $850,000
- ML approach
- $915,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,375,000
- 6.5%
- $1,270,000
- 7%
- $1,180,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $765,000
Market price range: $536k - $1.02M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $750,000 Current use
- WAREHOUSE, STORAGE
- $1,400,000 Change: +87% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,225,000 Change: +63% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.9046
- Latitude
- 40.7243
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,257
$87,750
$170,550
$258,300
-
$195,000
$379,000
$574,000
