42-54 Judge Street, Elmhurst
Queens Multifamily | 41 Units | 46% Free Market
Marketing description
Meridian Investment Sales is pleased to present exclusively for sale, 42-54 Judge Street, a six-story 41-unit elevator serviced multifamily apartment building in Elmhurst, NY. The building is comprised of 32,550 square feet and is comprised of 41 residential units, of which 46% (19 units) are of free-market status. There is a 21% difference between the legal and preferential rent stabilized rents, presenting future upside potential upon vacancies.
Investment highlights
• Six-story, 32,550 SF 41-unit building (92% occupied)
• (21) Rent-Stabilized, (19) Free-Market, (1) Rent-Controlled
• (5) Studios, (18) 1-BR units, (18) 2-BR units
• 21% upside between Legal and Preferential rents
• 1 block to Elmhurst Ave subway station, short walk to Elmhurst Hospital and Roosevelt Avenue
• Ideal long-term investment or 1031 exchange property
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