67-14 41st Avenue
88-unit, Elevator Serviced, Multifamily Building | ~9.00% CAP | ~5.47 GRM | $135/PSF | $105,795/UNIT
Marketing description
Meridian Investment Sales is pleased to present exclusively for sale 67-14 41st Avenue, an 88-unit elevator serviced apartment building with a professional space in Woodside, Queens, NY.
Built in 1964, the building is comprised of approx. 69,212 Sq. Ft. and all apartments are currently occupied. There are plans to convert the professional space to four additional apartments, providing tremendous upside potential.
The property is conveniently located on the southwest corner of 41st Avenue and 68th Street, 1 block to the [7] train at the 69th Street station and a short walk to the LIRR at the 61st Street-Woodside station.
This property is an ideal long-term investment or 1031 exchange opportunity at a low basis in one of the best up and coming neighborhoods in Queens, NY.
Investment highlights
- Six-story 88-unit elevator serviced apartment building
- 87 rent-stabilized apartments plus (1) 3,600 SF professional unit
- On-site live-in superintendent
- Plans to convert the professional space to (4) apartments
- On-site parking for 10+ cars
- Pending MCI filing for $160K in elevator updates
- Proximity to the [7] train and Woodside LIRR stations
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