This two story mixed use building offers approximately 4, 594 SF on a lot with about 24 feet of frontage along Jamaica Avenue.


Property

Website: https://www.nestseekers.com/5266128
Address:
New York, NY 11423
Ownership: For Sale
Type: mixed-use
Bedrooms: Studio

Financials

Price:$1,695,000
Annual Taxes:$13,500

Description

This two-story mixed-use building offers approximately 4,594 SF on a lot with about 24 feet of frontage along Jamaica Avenue. Built in 1931 and zoned R5, the property supports both residential and commercial use and is fully income-producing with stable, long-term tenants. The building includes two commercial units on the first floor (a real estate office and a church), a tenant-occupied basement space, and a four-bedroom residential apartment on the second floor. The property generates a total gross annual income of $97,200, derived from monthly rents of $2,300 (real estate office), $2,200 (church), $1,100 (basement tenant), and $2,500 (four-bedroom apartment). Annual operating expenses total approximately $22,900, including real estate taxes, insurance, heat, and water, resulting in a net operating income (NOI) of $74,300 and an estimated cap rate of approximately 4.37%.

Amenities

  • Electricity Connected

Contact

24-20 Jackson Ave Floor 3 Long Island City, NY 11101, USA
Listing Courtesy of Kingsland Properties