8625 59th AVE, Elmhurst, NY 11373
8625 59th AVE, Elmhurst, NY 11373
8625 59th AVE, Elmhurst, NY 11373
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$2,500,000
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3,998 Sqft Lot
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8625 59th AVE Elmhurst, NY 11373

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1008456

Rental Info No

Year Built 1925

Annual Tax Amount $16,437

Lot Size 3,998 Sqft

Acres 0.0918

Property Sub-Type Hotel/Motel

Source onekey2

Property Description

Calling All Investors, Developers, & End-Users!!! 100% Occupied 5 Unit Free Market Apartment Building In Flushing For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, (1) 5 Br. Apartment, (1) 3 Br. Apartment, (2) 2 Br. Apartments, (1) 1 Br. Apartment, Basement, Rear Yard, Private 2 Car Garage, Private Driveway, 6 Parking Spaces, High 8' Ceilings, 200 Amp Power, Updated Electrical Wires & Panels, New Boiler Installed In 2023, A/C, +++!!! The Property Is Located In The Heart Of Elmhurst Right Near The Queens Center Mall!!! The Property Is Situated Between I-495 (L.I.E.), Woodhaven Blvd., & Queens Blvd.!!! Neighbors Include Citibank, Bank of America, T-Mobile, Costco, Target, Macy's, Retro Fitness, Applebee's Bar & Grill, The Cheesecake Factory, Shake Shack, Olive Garden, Popeye's Louisiana Kitchen, Quest Diagnostics, Walgreens, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!



Income:



LL (3 Br. Apt.): $30,000 Ann.; M-M.



1st Fl. (5 Br. Apt.): $48,000 Ann.; M-M.



2nd Fl. (Front 1 Br. Apt. ): $14,700 Ann.; M-M.



2nd Fl. (Rear 2 Br. Apt.): $29,160 Ann.; M-M.



3rd Fl. (2 Br. Apt.): $27,000 Ann.; M-M.



2 Car Garage: $2,400 Ann.



1 Car Parking: $1,800 Ann.



1 Car Parking: $1,800 Ann.



1 Car Parking: $1,200 Ann.



Gross Income: $156,060. Ann.



Expenses:



Oil: $8,000. Ann.



Electric: $2,070. Ann. (Hallway & Boiler Only)



Water & Sewer: $2,543 Ann.



Insurance: $3,568 Ann.



Snow & Landscaping: $0 Ann.



Maintenance: $2,500 Ann.



Taxes: $17,746 Ann.



Total Expenses: $36,427 Ann.

Net Operating Income (NOI): $119,633 Ann.

Location

State NY

County Queens

Rooms

Basement None

Interior

Heating Oil

Cooling None

Fireplace No

Exterior

Utilities Available Electricity Connected, Water Connected

Building

Sewer Other

Water Public

Structure Type Brick,Frame

Schools

High Schools Contact Agent

School District Contact Agent

Others

Special Listing Condition Probate Listing

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by All Island Estates Realty Corp • Richard Matt Shane

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Jonathan Greene

Jonathan Greene

Broker of Record | License ID: 1433604

+1(973) 873-0734

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