New York, NY 11377

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: Pets No
Lot Size: 0.06 Acres

Financials

Price:$1,400,000
Annual Taxes:$20,661.41
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of RealTegrity NY LLC

6 Family walk up with 2 car parking lot in great condition, located on the corner of Skillman Ave and 52nd St on the Woodside Sunnyside border.

Description

6 Family walk-up with 2 car parking lot in great condition, located on the corner of Skillman Ave and 52nd St on the Woodside/Sunnyside border. The building has been "babied" by the same owner for 30+ years and professionally managed since 2022. Located 1 block away from the 7 train, and no violations, this is a great opportunity for any investor. Keep the current management company in place to create a true hands-off, passive income, revenue stream! All apartments are 3 bedrooms/1 bathroom, box layout, fully occupied, and all tenants have leases. An apartment will not be vacant at closing, the buyer should be looking to buy purley as an investment property. All tenants pay on time and there is no arrears. The building has 5 rent stabilized apartments, 1 rent controlled apartment, a 2 car parking lot, and the building has been realisticlay priced accordingly. The total current income is $10,330.83, and the 2026 Proforma Rent Roll after all apartments are increased by the approved 4.5% and parking rent is $12,400. The yearly expenses including common area electric, water, heat, insurance, property tax, and repairs are approximately $50,000 a year, including a $5,550 SCRIE Credit. With net income of almost 100K a year, the asking price of $1,400,000 = a cap rate of 7%!

Amenities

  • Cable Connected
  • Corner Lot
  • Electricity Connected
  • High Speed Internet
  • Level
  • Natural Gas Connected
  • Near Public Transit
  • Other
  • Phone Connected
  • Trash Collection Public

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.