6011 75 St Queens, NY 11379

Property Details for 6011 75 St

Year built

1998

Property size

2,980 SF

Property type

Residential income homes

Description

This 3-family home in desirable Middle Village, Queens offers a compelling investment opportunity. Built in 1998 and renovated in 2020, the property features 2,980 square feet on a 2,390 square foot lot, with three units totaling 2,980 net rentable square feet. The building boasts three stories, with two generously sized 2-bedroom units each featuring hardwood floors, spacious living and dining areas, well-appointed kitchens, full baths, and two balconies. The first floor offers a cozy one-bedroom unit, complemented by a full finished basement with an additional bedroom and yard access. The property includes an attached one-car garage and two additional driveway parking spaces. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $92,350, with a pro-forma NOI of $110,400, representing a 5.13% cap rate and a pro-forma cap rate of 6.13%. The asking price is $1,800,000 ($600,000 per unit), and the property is zoned R4. Its convenient location near shops, major highways, and transportation options makes it an attractive investment for owner-users or those seeking a 1031 exchange opportunity. The property's excellent condition, strong cash flow, and prime location make it a rare find in the Middle Village market.