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76-18 Grand Central Pky 8 Unit Apartment Building $1,690,000 ($211,250/Unit) 6.22% 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
8-Unit Investment Building in Forest Hills
Free-market rent opportunity in the heart of Forest Hills. Built in 1989, this well-located property features:
- 7 one-bedroom units
- 1 studio apartment
- Annual rental income: $176,520
- Some units with generously sized balconies
- Two-car parking spaces
- Building size: approximately 30' × 45'
- Tenants pay all utilities except water
Conveniently located just two blocks from subway and bus transportation, near shopping, dining, schools, and other amenities. Only minutes from Manhattan.
Must see!
Free-market rent opportunity in the heart of Forest Hills. Built in 1989, this well-located property features:
- 7 one-bedroom units
- 1 studio apartment
- Annual rental income: $176,520
- Some units with generously sized balconies
- Two-car parking spaces
- Building size: approximately 30' × 45'
- Tenants pay all utilities except water
Conveniently located just two blocks from subway and bus transportation, near shopping, dining, schools, and other amenities. Only minutes from Manhattan.
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 | $1,690,000 | Building Class | B |
| Price Per Unit | $211,250 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| Cap Rate | 6.22% | 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 | $1,690,000 |
| Price Per Unit | $211,250 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| 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