All brick mixed use corner property with low taxes and low maintenance costs in East Elmhurst, Queens. Building features a large storefront on first floor (delivered vacant) and 2 two bedroom residential apartments on the second floor. Store is a generous 1216 sq ft with two bathrooms, roughed out commercial kitchen, access to basement and access to backyard. Currently setup as a convenience store (Rent: $6,000/mo VOT). Second floor features a 2 bedroom/1 bath front unit in average condition (Rent: $1,750 MTM) and a 2 bedroom/1 bath rear unit in original condition (Rent: $1,790 MTM). Both residential tenants are in good standing and pay on time every month. Building also features a fully finished basement and is located right on 31st Ave which is a busy thoroughfare in the area. 2 blocks from Northern Blvd, 1 block from Astoria Blvd. Interest rates are coming down, ensure a solid return with this 7.5% cap rate in a prime area of Northwest Queens. Ideal for 1031 exchange, business owner, and/or income investor. Take advantage of this great opportunity!All brick mixed use corner property with low taxes and low maintenance costs in East Elmhurst, Queens. Building features a large storefront on first floor (delivered vacant) and 2 two bedroom residential apartments on the second floor. Store is a generous 1216 sq ft with two bathrooms, roughed out commercial kitchen, access to basement and access to backyard. Currently setup as a convenience store (Rent: $6,000/mo VOT). Second floor features a 2 bedroom/1 bath front unit in average condition (Rent: $1,750 MTM) and a 2 bedroom/1 bath rear unit in original condition (Rent: $1,790 MTM). Both residential tenants are in good standing and pay on time every month. Building also features a fully finished basement and is located right on 31st Ave which is a busy thoroughfare in the area. 2 blocks from Northern Blvd, 1 block from Astoria Blvd. Interest rates are coming down, ensure a solid return with this 7.5% cap rate in a prime area of Northwest Queens. Ideal for 1031 exchange, business owner, and/or income investor. Take advantage of this great opportunity!
Details:
Families:
3
Property Type:
Commercial
Lot Size:
19.33x100
Acres:
0.05
Built:
1925
Financials:
Price:
$1,249,000
Taxes:
$8,026
Keller Williams Landmark II George Herrera Office: 347-846-1200
