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76-18 Grand Central Pky 8 Unit Apartment Building $1,780,000 ($222,500/Unit) 5.91% Cap Rate Forest Hills, NY 11375
Investment Highlights
- - " FREE MARKET RENT " Building with Lot Size 30X100 and Zone R6 !
- - Very Easy to rent and now are all occupied !
- - Minutes to Manhattan, JFK Airport, LaGuardia Airport, Flushing Meadow Park & Shea Stadium
- - All tenants are responsible for their own utilities & heat except water.
- - Convenient Located In The Heart of Forest Hills.- 2 Blocks To Subway & buses. 10 minute to LIRR train.
- - EZ access to major highways 495 & Grand Central Pkwy. - Must See!
Executive Summary
- Building with Lot Size 30X100 & Zone R6
- All tenants are responsible for their own utilities & heat except water.
- Very Easy to rent and now are all occupied !
- Convenient Located In The Heart of Forest Hills.
- 2 Blocks To Subway & buses. 10 minute to LIRR train.
- Minutes to Manhattan, JFK Airport, LaGuardia Airport, Flushing Meadow Park & Shea Stadium
- EZ access to major highways 495 & Grand Central Pkwy.
- Must See!
- All tenants are responsible for their own utilities & heat except water.
- Very Easy to rent and now are all occupied !
- Convenient Located In The Heart of Forest Hills.
- 2 Blocks To Subway & buses. 10 minute to LIRR train.
- Minutes to Manhattan, JFK Airport, LaGuardia Airport, Flushing Meadow Park & Shea Stadium
- EZ access to major highways 495 & Grand Central Pkwy.
- Must See!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$176,520
|
$32.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$176,520
|
$32.69
|
| Taxes |
$55,471
|
$10.27
|
| Operating Expenses |
$15,922
|
$2.95
|
| Total Expenses |
$71,393
|
$13.22
|
| Net Operating Income |
$105,127
|
$19.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $176,520 |
| Annual Per SF | $32.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $176,520 |
| Annual Per SF | $32.69 |
| Taxes | |
|---|---|
| Annual | $55,471 |
| Annual Per SF | $10.27 |
| Operating Expenses | |
|---|---|
| Annual | $15,922 |
| Annual Per SF | $2.95 |
| Total Expenses | |
|---|---|
| Annual | $71,393 |
| Annual Per SF | $13.22 |
| Net Operating Income | |
|---|---|
| Annual | $105,127 |
| Annual Per SF | $19.47 |
Property Facts
| Price | $1,780,000 | Building Class | B |
| Price Per Unit | $222,500 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| Cap Rate | 5.91% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 0.37/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R6 - R6 is a medium-density residential zoning district. Lot Size 30X100. | ||
| Price | $1,780,000 |
| Price Per Unit | $222,500 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 5,400 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1989 |
| Parking Ratio | 0.37/1,000 SF |
| Zoning | R6 - R6 is a medium-density residential zoning district. Lot Size 30X100. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gas Range
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,700 | 500 |
| 1+1 | 7 | $1,875 | 600 |
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Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02267-0129 | Total Assessment | $445,950 (2026) |
| Land Assessment | $15,764 (2026) | Annual Taxes | $55,471 ($10.27/SF) |
| Improvements Assessment | $430,186 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
02267-0129
Land Assessment
$15,764 (2026)
Improvements Assessment
$430,186 (2026)
Total Assessment
$445,950 (2026)
Annual Taxes
$55,471 ($10.27/SF)
Tax Year
2025
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76-18 Grand Central Pky