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33155686
33155709

3611 UTOPIA PKWY, FLUSHING, NY 11358

JC
NY 10301214776
Douglas Elliman New Hyde Park
Listed by Douglas Elliman New Hyde Park
$1,499,000
10 days on market
Updated 5 days ago

36-11 UTOPIA PKWY FLUSHING NY 11358

Details
APN 05307-0020
Property Type Multifamily
Square Footage 4,662
Units 9
Cap Rate 4.55%
NOI $68,316
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.67%
Pro-Forma NOI $100,116
Class C
Year Built 1975
Buildings 1
Stories 2
Lot Size (SqFt) 5,153
Zoning R5B
Parking Spaces spaces
Investment Type Owner/User

Detached Brick Income-Producing Property in Prime Flushing Location Near Auburndale LIRR

Marketing description

36-11 Utopia Parkway presents a solid opportunity to own a detached brick income-producing property in a highly convenient Flushing location. This legal 2-family home is currently being used and taxed as a 4-family property and offers approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot.

The property features spacious, well-kept apartments with strong rental functionality. The second and third floor units each offer 3 bedrooms, 2 full bathrooms, a living room, dining room, kitchen, and private balcony. The first floor unit includes 1 bedroom, 1 full bathroom, living room, dining room, and kitchen, while the lower level offers 1 bedroom, 1 bathroom, living room, and kitchen/dinette area.

Additional features include a 1-car attached garage and two long private driveways, providing excellent parking convenience. The property is fully rented with no leases, and all tenants are currently month-to-month.

Located a very short distance to Auburndale LIRR Station, Northern Boulevard, and Francis Lewis Boulevard, the property offers easy access to transportation, shopping, dining, and neighborhood amenities. A solid brick income-producing property with strong potential in one of Flushing’s most convenient locations.

Buyer should independently verify all information, use, occupancy, taxes, and property details.

Investment highlights

  • Detached brick legal 2-family home, currently being used and taxed as a 4-family property
  • Approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot
  • Lot size approximately 85 x 44 IRR; building size approximately 74 x 21
  • Built in 1975 and well maintained
  • Fully rented with month-to-month tenants and no active leases
  • Spacious second and third floor apartments, each featuring 3 bedrooms, 2 full baths, living room, dining room, kitchen, and private balcony
  • First floor apartment features 1 bedroom, 1 full bath, living room, dining room, and kitchen
  • Lower level apartment features 1 bedroom, 1 bath, living room, and kitchen/dinette area
  • 1-car attached garage plus two long private driveways for excellent parking convenience
  • Short distance to Auburndale LIRR Station, Northern Boulevard, and Francis Lewis Boulevard
  • Strong income-producing potential in a convenient Flushing location

Listing Contacts

JC
NY 10301214776
Douglas Elliman New Hyde Park
Listed by Douglas Elliman New Hyde Park

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$68,316.00
$5,693.00/mo

Valuation Metrics

0
DSCR
4.56%
Cap Rate
4.56%
ROI

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Additional Information

Name
James Chung
License
10301214776
Brokerage
Douglas Elliman
Brokerage Phone
5167460440
Title
Lic. Associate Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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