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54-08 Flushing Ave 54-08 Flushing Ave 8 Unit Apartment Building $1,800,000 ($225,000/Unit) 6.30% Cap Rate Flushing, NY 11378
INVESTMENT HIGHLIGHTS
- Very Clean Building. No Violations (as at 6/12/25)
- 0.686 Miles to L Subway Train to Manhattan. Schools Nearby.
- Close to the Metropolitan Oval.
- Close to MTA 38, 52 Buses
EXECUTIVE SUMMARY
MASPETH QUEENS MIXED USE INVESTMENT OPPORTUNITY
Maspeth is strategically located only five miles from Manhattan.
It is also located directly east of the super desirable Williamsburg section of Brooklyn. The property is located on 54 street flushing , Valuable , desirable property on a very busy commercial street. Shopping on flushing Ave . Near public Transportation, banks and cool restaurants . New building near the property.
100% Occupied
Mixed Use
6 Units residential apartments Walkup and 2 units commercial stores
5.7% CAP RATE
A Three -story brick building, 5835 Square foot walk-up Mixed-Use building with Two (1) Bedroom Residential Apartments approximately 680 square foot each and Four (3) bedroom approximately 1000 square foot each, Pizza Restaurant and bakery and plus fully open basement with 8 foot high ceiling. Two stores are all leased and will expire soon. Residential apartments are all month-by-month lease. New roof and new boiler. New plumbing and updated electrical. No violations. It can be delivered vacant. up-ground oil tanks.
Financials
Actual Gross Income: 138,000
NOI: 113,316
Cap Rate: 6.3%
54-08 Flushing Avenue
Maspeth, NY 11378
Neighborhood: (Maspeth/Fresh Ponds Section of Queens)
Maspeth is strategically located only five miles from Manhattan.
It is also located directly east of the super desirable Williamsburg section of Brooklyn. The property is located on 54 street flushing , Valuable , desirable property on a very busy commercial street. Shopping on flushing Ave . Near public Transportation, banks and cool restaurants . New building near the property.
100% Occupied
Mixed Use
6 Units residential apartments Walkup and 2 units commercial stores
5.7% CAP RATE
A Three -story brick building, 5835 Square foot walk-up Mixed-Use building with Two (1) Bedroom Residential Apartments approximately 680 square foot each and Four (3) bedroom approximately 1000 square foot each, Pizza Restaurant and bakery and plus fully open basement with 8 foot high ceiling. Two stores are all leased and will expire soon. Residential apartments are all month-by-month lease. New roof and new boiler. New plumbing and updated electrical. No violations. It can be delivered vacant. up-ground oil tanks.
Financials
Actual Gross Income: 138,000
NOI: 113,316
Cap Rate: 6.3%
54-08 Flushing Avenue
Maspeth, NY 11378
Neighborhood: (Maspeth/Fresh Ponds Section of Queens)
PROPERTY FACTS
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.30% | Building Size | 5,832 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1915 |
| Zoning | R4 | ||
| Price | $1,800,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,832 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1915 |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gas Range
- Walk-Up
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Walk Score®
Very Walkable (84)
Transit Score®
Excellent Transit (80)
PROPERTY TAXES
| Parcel Number | 02635-0003 | Improvements Assessment | $110,102 |
| Land Assessment | $2,434 | Total Assessment | $112,536 |
PROPERTY TAXES
Parcel Number
02635-0003
Land Assessment
$2,434
Improvements Assessment
$110,102
Total Assessment
$112,536
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54-08 Flushing Ave | 54-08 Flushing Ave
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