New York, NY 11385

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Lot Size: 0.1 Acres

Financials

Price:$950,000
Annual Taxes:$14,361
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Annkey Realty, Inc.

Investor's Dream in Prime Ridgewood, Queens !

Description

Investor's Dream in Prime Ridgewood,Queens! This well-maintained 6-Family building offers a rare opportunity to own a stable, income-producing asset in one of Queens' most sought-after neighborhoods. The property features **Six Residential Units, all configured as spacious 2-bedroom, 1-bathroom apartments**, a highly desirable layout that continues to attract strong tenant demand. With a proven rental history, the building generates **$106,500 in annual gross rental income** and produces approximately **$73,400 in net operating income**, offering an attractive **7.73% cap rate** at the asking price of **$950,000**. Located in the heart of Ridgewood, residents enjoy easy access to popular restaurants, cafés, boutique shopping, parks, nightlife, and multiple public transportation options. The neighborhood's strong rental demand, vibrant atmosphere, and convenient access to Brooklyn and Manhattan make this an excellent long-term investment opportunity. Whether you're looking to expand your portfolio or secure a foothold in one of New York City's most resilient rental markets, this income-producing property checks all the boxes. Don't miss this opportunity to own a cash-flowing multifamily asset in a prime Ridgewood location.

Amenities

  • Electricity Available
  • Electricity Connected
  • Natural Gas Available
  • Natural Gas Connected

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.