Cushman & Wakefield has been retained on an exclusive basis for the sale of 35-15 72nd Street in Jackson Heights, Queens.
The property is a three-story walk-up multifamily building. The building encompasses six residential units consisting of three two-bedroom and three one-bedroom apartments. Three of the six units are currently owner-occupied and will be delivered vacant which allows for tremendous upside for potential de-stabilization. The remaining three units are rent stabilized with leases expiring through December 2018.
The building is well-maintained with a good floor plan. Recent updates include an updated roof, boiler and brick pointing within the past four years. 35-15 72nd Street is located in an extremely convenient location for transportation. The 74th Street-Roosevelt Avenue Terminal Subway Station is only two short blocks away offering access to the E F M and R trains, as well as the 7 train at 74th Street / Roosevelt Avenue. Roosevelt Avenue offers an abundance of shopping, transportation, and is expecting an abundance of new developments over the next few years.
This is a rare opportunity in the Jackson Heights area. The property offers an investor the advantage of three vacant units in a rent stabilized multifamily building. Jackson Heights is a high-demand area for residential rental apartments and currently has a very low vacancy rate.
All property inspections are by appointment only, please inquire within.
