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33179197
33179216

172-18 Jamaica Avenue, Jamaica, NY 11432

SK
NY 10301216872
Compass
Listed by Compass
$11,000,000
8 days on market
Updated 2 days ago
Opportunity zone

Parthenon One

Details
APN 102131014
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Net Rentable (SqFt) 36,800
Units 17
Cap Rate 4.00%
NOI $400,000
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 5.59%
Pro-Forma NOI $615,000
Class B
Year Built 2011
Year Renovated 2020
Buildings 1
Stories 6
Acreage 0.230
Zoning C2-4/R6A/DJ- Multifamily Residence
Parking Spaces spaces

Multifamily | 4.00% CAP | 17 Units

Marketing description

Prime Transit-Oriented Bulk Condo Offering: Downtown Jamaica, Queens | 16 Residential Units, Commercial Space & 11 Parking Spaces An exceptional investment opportunity in one of New York City’s most dynamic and accessible transit hubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies. The Offering: Discover a newly renovated, 6-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds. The Portfolio: 16 Premium Residential Units + 11 On-Site Parking Spaces + Commercial Space. The Building: 6-Story Elevator Asset with a Finished Basement and total 16 units. The Control: Immediate majority control of the condominium board. Unmatched Connectivity Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile. Residents enjoy effortless commutes across New York City and Long Island. Transit access: 179 St Station (F train) — about 10 min 169 St Station (F train) — about 9 min Jamaica Center (E, J, and Z trains)- 1.1 miles Jamaica LIRR Station / AirTrain JFK/ Sutphin Blvd-E/J/Z subway The property is also near multiple bus stops along Jamaica Avenue/172 St & 173 St Investment Highlights: High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a high-density, low-vacancy asset. Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units over time to maximize total ROI. Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape.

Investment highlights

  • All units are Free Market- 16 units with 11 parking spaces and spacious commercial space on the first floor and finished basement with bathroom.
  • Opportunity to purchase three condo bulk sale/buildings for $28,000,000. Please contact LA for details.
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Listing Contacts

SK
NY 10301216872
Compass
Listed by Compass

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$400,000.00
$33,333.33/mo

Valuation Metrics

0
DSCR
3.64%
Cap Rate
3.64%
ROI

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Additional Information

Name
Sarah Kim
License
10301216872
Brokerage
Compass
Brokerage Phone
7188134835
Title
Broker Associate
Brokerage Address
298 Merrick Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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