$ 1,395,000
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$1,395,000
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SqFt
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About the Listing EBSM02 - 505265,156063
Exceptional value-add investment opportunity in the heart of Jackson Heights. This well-maintained five-family building, constructed in 1992, offers approximately 6,240 SF across four stories on a 25.42 x 100 lot, featuring renovated apartments, an updated lobby, and a newer roof and boiler (approximately five years old). The unit mix spans one-, two-, and three-bedroom layouts, and tenants pay their own gas, heat, and hot water, keeping owner expenses low. Current gross income of $142,020 supports a 4.7% cap rate at the asking price, with strong pro-forma upside to approximately 7.8% by bringing rents to market and capturing additional income from the lower level and on-site parking. Four parking spaces, including a two-car garage, are a rare and valuable amenity in this location. Located in a C2 commercial overlay zone, the ground floor offers flexibility for professional, medical, or office use, enhancing the property's long-term appeal. The building shows no open violations, and a survey is available. Set on a tree-lined street minutes from the 7 train, the 82nd Street and Roosevelt Avenue shopping corridor, restaurants, and parks, the location earns top walkability and transit ratings. Offered by a long-term absentee owner, this is a turnkey opportunity to acquire a well-located, income-producing asset with clear paths to increased revenue. Buyer to perform own due diligence regarding rents, unit configurations, and permitted uses.
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Multi Units
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Storage Space
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Driveway,Garage,Garage Door Opener,On Street,Private
Financial Details
- Tax Amount: $59,030
- Taxes w/Assessments: N/A
- Tax/Property ID: 01460-0046
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
35-57 86th St Jackson Heights, NY 11372
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