37-43 59 StQueens, NY 11377

Exceptional investment opportunity in Woodside, Queens, presents a well-maintained, three-story Class A apartment building. This 7-unit property, built in 1940 and renovated in 1995, boasts 4,860 square feet of net rentable space on a 2,500 square foot lot. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $102,204, representing a 4.65% cap rate. A pro-forma NOI of $125,000 projects a 5.68% cap rate, indicating significant upside potential. Six units are rent-stabilized, while one unit offers free-market rent. The asking price is $2,200,000, translating to $440 per square foot. The building's strong performance and potential for increased income, including possibilities for additional revenue from basement storage and cell phone tower lease, make this a compelling investment. This stabilized multifamily asset offers a rare blend of immediate cash flow and long-term growth prospects in a desirable Queens location. The property's strong financials, combined with its prime location and potential for value enhancement, make it an ideal addition to any investor's portfolio.