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901 40th Ave
Long Island City, NY 11101
10 Family Plus & 2 Stores · Multifamily Property For Sale
·
12 Units
INVESTMENT HIGHLIGHTS
- Close to multiple public transit stops
- Corner Building Exposure on 40th Ave/9th St
EXECUTIVE SUMMARY
The Subject Properties includes the sale of 901 40 Ave and 38-65 9 St in Prime Location in Long Island City. The buildings are located next to each other on the Corner of 9th Street and 40 Ave. The Building with 901 40 Ave includes one Store and Seven (3) bedroom apartments, all rented . The building is rent stabilized with additional 3,120 Buldable Sqft of air rights which gives it a huge upside potential to turn it to free market rent.
The second building on 3865 9 St includes one office and Three (2) bedroom apartments,all rented and the building is not rent stabilized
Prime location on 40 Ave, corner of 9rh St. Close to Subway express F train on 21st Street and many stores and gas stations and highways
Off 21st Street to 40th Ave
The second building on 3865 9 St includes one office and Three (2) bedroom apartments,all rented and the building is not rent stabilized
Prime location on 40 Ave, corner of 9rh St. Close to Subway express F train on 21st Street and many stores and gas stations and highways
Off 21st Street to 40th Ave
PROPERTY FACTS
| Price Per Unit | $416,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 5% | Building Size | 8,635 SF |
| No. Units | 12 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1916 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | M1-3 - Light Manufacturing/Business Park District. | ||
| Price Per Unit | $416,667 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 8,635 SF |
| No. Stories | 4 |
| Year Built | 1916 |
| Opportunity Zone |
Yes |
| Zoning | M1-3 - Light Manufacturing/Business Park District. |
AMENITIES
UNIT AMENITIES
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 12 | - | 1,160 |
PROPERTY TAXES
| Parcel Number | 00475-0008 | Improvements Assessment | $160,596 |
| Land Assessment | $2,549 | Total Assessment | $163,145 |
PROPERTY TAXES
Parcel Number
00475-0008
Land Assessment
$2,549
Improvements Assessment
$160,596
Total Assessment
$163,145
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