102-113 Farmers BlvdQueens, NY 11423

This exceptional investment opportunity presents a 12-unit apartment building located at 113-02-06 Farmers Blvd, Queens, NY 11423. The property boasts 9,700 square feet of net rentable space across two, three-story buildings, built in 1938. Currently configured as a value-add opportunity, the property offers significant potential for renovation and increased profitability. The asking price is $1,395,000, translating to $143.81 per square foot and $116,250 per unit. The property sits on a 4,865 square foot lot (70 x 180 ft) and is zoned R5B, C1-3, allowing for diverse development possibilities. A strong pro-forma NOI of $301,864 projects a 20.12% cap rate. The property's location in St. Albans offers convenient access to JFK International Airport and the Long Island Rail Road, providing excellent transportation links. The area is experiencing significant revitalization efforts, including the Jamaica NOW Action Plan, promising future appreciation. This presents a compelling investment opportunity with both immediate rental income and substantial long-term growth potential. The property is being sold by owner.