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22-14-22-16 120th St 6 Unit Apartment Building $1,299,999 ($216,667/Unit) 6.30% Cap Rate College Point, NY 11356
Executive Summary
Six-unit rent Stabilized Queens multifamily with stable in-place income, long-term tenant base, and future upside upon legal vacancy. Ideal for a patient investor seeking a durable NYC income asset. Excellent opportunity located in the desirable College Point neighborhood of Queens. This well-maintained multifamily building presents a strong investment opportunity. The property features an ideal unit mix consisting of two 1-bedroom apartments on the first floor and four 2-bedroom apartments located on the second and third floors, offering strong tenant appeal and consistent rental demand. Currently generating over $111,000 in annual gross rental income, the property offers investors an approximate 6.3% cap rate, making it an attractive addition to any investment portfolio. Conveniently located in College Point, the property is close to shopping, restaurants, parks, schools, and public transportation, with easy access to Downtown Flushing, major highways, and LaGuardia Airport. This area continues to experience strong rental demand due to its convenient location and vibrant community.
Property Facts
| Price | $1,299,999 | Apartment Style | Low-Rise |
| Price Per Unit | $216,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.30% | Building Size | 5,316 SF |
| No. Units | 6 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | R4, Queens | ||
| Price | $1,299,999 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,316 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R4, Queens |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 2 | - | - |
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Very walkable
80/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 04195-0032 | Improvements Assessment | $170,535 |
| Land Assessment | $3,929 | Total Assessment | $174,464 |
Property Taxes
Parcel Number
04195-0032
Land Assessment
$3,929
Improvements Assessment
$170,535
Total Assessment
$174,464
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22-14-22-16 120th St