41-48 40th St - Apartments FOR SALE


Sunnyside, NY 11104
$14,995,000 USD
917-566-3328
41-48 40th St, Sunnyside, NY for Sale
$14,995,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

41-48 40th St
Sunnyside, NY 11104


HIGHLIGHTS

  • Rare corner investment opportunity with multifamily and commercial space.
  • Only 15 of 50 apartments stabilized.
  • Convenient location for tenants and customers—11 minutes by train into Manhattan.

OVERVIEW

Rare opportunity to buy in Long Island City's niche called Sunnyside, NY Owned by one family for over 45 years. Corner property with 4 commercial units, 50 residential units—shown in video and images provided for your view. One block walk to train—in the city in 11 minutes. Renovated apartments. Walk up-apartment building (less maintenance costs). Construction type is masonry (brick). Zoning R7A and qualified opportunity zone. Thirty five apartments are fair market with only fifteen rent stabilized. Lot is 10,000 square feet. Lot dimensions are 100 square feet x 100 square feet. Total square footage 35,000 square feet including 7,000 square feet retail. Building dimensions 87 ft x 90 ft. Average residential unit size 560 square feet. High leverage due to lower than market, fair market rents. Borough of Queens. Very well maintained exterior and interior. All brokers and buyers welcome. Brokers protected through signing a non-exclusive agreement & confidentiality agreement as incentive to sell. All information loaded from Property Shark and needs to be verified by any buyer. Rare investment opportunity with leverage and for 1031 exchange.

FOR SALE DETAILS

PRICE

$14,995,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

54

PRICE/UNIT

$277,685

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long Island City, Sunnyside Gem 50 Res 4 Comm

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,181 SF

ZONING

R7A

APN/PARCEL ID

00186-0042

ASK ABOUT THIS PROPERTY

Charlie VafiasRising Real Estate Sales LLCMore Info
917-566-3328

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Charlie VafiasRising Real Estate Sales LLCMore Info
917-566-3328

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.