Six-unit rent Stabilized Queens multifamily with stable in-place income, long-term tenant base, and future upside upon legal vacancy. Ideal for a patient investor seeking a durable NYC income asset. Excellent opportunity located in the desirable College Point neighborhood of Queens. This well-maintained multifamily building presents a strong investment opportunity.
The property features an ideal unit mix consisting of two 1-bedroom apartments on the first floor and four 2-bedroom apartments located on the second and third floors, offering strong tenant appeal and consistent rental demand.
Currently generating over $111,000 in annual gross rental income, the property offers investors an approximate 6.3% cap rate, making it an attractive addition to any investment portfolio.
Conveniently located in College Point, the property is close to shopping, restaurants, parks, schools, and public transportation, with easy access to Downtown Flushing, major highways, and LaGuardia Airport. This area continues to experience strong rental demand due to its convenient location and vibrant community.