Listed by Exit All Seasons Realty
$1,778,000
6165 56th Road
Details
APN 02709-0001
Property Type Mixed Use, Office
Sub Type Executive Office, Mixed Use
Units 6
NOI $89,955
Year Built 1925
Acreage 0.077
Zoning R4-1
Parking Spaces spaces
Mixed Use
Marketing description
Three Story Mixed-Use Building Featuring A Street Level Retail & Five Apartments. NO RENT CONTROL / STABILIZATION
5 FREE-MARKET TWO BEDROOM APARTMENTS PLUS GARAGE. Property Is Currently 100% Tenanted And It Already Generates A Good Cash Flow. Even So, All Gross Rents Are Substantially Below Market Value And Present Tremendous Opportunity To Reposition And Significantly Increase the Income. Each Apartment Consists of Two Bedrooms And Tenants Have No Leases. Commercial Space Lease Expires in Few Months. Some Units Have Been Significantly Updated Throughout The Years And Are In A Good Condition. Also Big Ticket Mechanicals Such As A Central Heater & A Water Heater Have Been Upgraded Approximately 2 Years Ago While The Roof Has Been Redone Last Year. Positioned In The Heart Of Maspeth, This Property Is Surrounded By An Exciting Blend Of Commerce & Connectivity. Perfect For 1031 Exchange & Investors Looking For Significant Upside Through Lease-Up & Renovation.
Listing Contacts
Listed by Exit All Seasons Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$89,955.00
$7,496.25/mo
Valuation Metrics
0
DSCR
5.06%
Cap Rate
5.06%
ROI
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