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7220 67th St 6 Unit Apartment Building $1,298,000 ($216,333/Unit) 6.15% Cap Rate Flushing, NY 11385
Investment Highlights
- Prime location
- Excellent condition
- Well maintained
Executive Summary
Exceptional opportunity to acquire a fully leased six-family brick building in the highly resilient Ridgewood/Glendale rental corridor of Queens.
This well-maintained asset comprises six spacious two-bedroom, one-bathroom apartments, each offering generous living areas and functional kitchen layouts. The consistent two-bedroom unit mix remains one of the strongest-performing configurations in this submarket, supporting steady tenant demand and long-term rent stability.
Constructed of solid brick and positioned in a prime location near transportation, shopping, dining, and everyday conveniences, the property benefits from strong rental fundamentals and enduring neighborhood appeal.
An ideal turnkey investment offering immediate cash flow in one of Queens’ most dependable multifamily corridors.
Investment Highlights:
• 100% Occupied – Immediate Cash Flow
• Gross Scheduled Income: $124,063.2
• Net Operating Income: $79,827.2
• Cap Rate: 6.15%
• Price Per Unit: $216,333
Contact me for more information
This well-maintained asset comprises six spacious two-bedroom, one-bathroom apartments, each offering generous living areas and functional kitchen layouts. The consistent two-bedroom unit mix remains one of the strongest-performing configurations in this submarket, supporting steady tenant demand and long-term rent stability.
Constructed of solid brick and positioned in a prime location near transportation, shopping, dining, and everyday conveniences, the property benefits from strong rental fundamentals and enduring neighborhood appeal.
An ideal turnkey investment offering immediate cash flow in one of Queens’ most dependable multifamily corridors.
Investment Highlights:
• 100% Occupied – Immediate Cash Flow
• Gross Scheduled Income: $124,063.2
• Net Operating Income: $79,827.2
• Cap Rate: 6.15%
• Price Per Unit: $216,333
Contact me for more information
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$124,063
|
$21.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,063
|
$21.72
|
| Taxes |
$16,500
|
$2.89
|
| Operating Expenses |
$27,700
|
$4.85
|
| Total Expenses |
$44,200
|
$7.74
|
| Net Operating Income |
$79,863
|
$13.98
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $124,063 |
| Annual Per SF | $21.72 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,063 |
| Annual Per SF | $21.72 |
| Taxes | |
|---|---|
| Annual | $16,500 |
| Annual Per SF | $2.89 |
| Operating Expenses | |
|---|---|
| Annual | $27,700 |
| Annual Per SF | $4.85 |
| Total Expenses | |
|---|---|
| Annual | $44,200 |
| Annual Per SF | $7.74 |
| Net Operating Income | |
|---|---|
| Annual | $79,863 |
| Annual Per SF | $13.98 |
Property Facts
| Price | $1,298,000 | Apartment Style | Low-Rise |
| Price Per Unit | $216,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.15% | Building Size | 5,712 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | R5, Queens - Medium density district with a height limit of 40 feet | ||
| Price | $1,298,000 |
| Price Per Unit | $216,333 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,712 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R5, Queens - Medium density district with a height limit of 40 feet |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Tub/Shower
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03700-0035 | Total Assessment | $132,145 |
| Land Assessment | $3,782 | Annual Taxes | $16,500 ($2.89/SF) |
| Improvements Assessment | $128,363 | Tax Year | 2025 |
Property Taxes
Parcel Number
03700-0035
Land Assessment
$3,782
Improvements Assessment
$128,363
Total Assessment
$132,145
Annual Taxes
$16,500 ($2.89/SF)
Tax Year
2025
Contacts
-
Doron Berenholtz -
Jeffrey Berman -
Berkshire Hathaway HomeServices NY Properties
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