Queens, NY Multifamily For Sale, Northeast Region

Property Description

Queens, NY Multifamily For Sale


Highlights:
One Block to the Atlantic Ocean, Beach and Boardwalk.
Upside to Acheiving Market Rents After Renovation.
Easy Access To Shopping and Dining.
MTA Transportation- Q22 Bus, A & S Trains.

New to the market.

Asking Price: $1,100,000

Seller will let this go to the first buyer $800,000 cash -�as is unconditional-� subject to insured title free of financial liens quick closing.

That's 27% discount off asking price!

That's 4.45% cap rate with only 5 apartments rented now

12.2% cap rate projected after rear building is rented up

FREE MARKET UNREGULATED RENTS
Brand New on the Market!!
14% PROJECTED ROI
8.6% Cap Rate
7.44 x GRM

Seller says rents are free market not registered with DHCR

At initial showing, a prospective buyer see the rear building that is vacant and the front building hallways. After an an acceptable offer, the seller will provide interior occupied apartment access but until then he does not want to disturb any occupants.

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The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.