**Updated Cap Rate Calculation** * Annual Gross Income: **$125,741** * Annual Expenses: **$46,487** * Net Operating Income (NOI): **$79,254** * Asking Price: **$1,299,000** **Cap Rate = NOI ÷ Purchase Price × 100** **$79,254 ÷ $1,299,000 = 6.10% Cap Rate** --- ### Property Remarks Exceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.