93-02 95th Ave 7 Unit Apartment Building $4,500,000 ($642,857/Unit) 6.08% Cap Rate Ozone Park, NY 11416

93-02 95th Avenue is a fully renovated mixed use corner property located in the heart of Ozone Park, a well-established Queens neighborhood known for its strong residential stability, consistent tenant demand, and convenient connectivity to major transit routes. This free-market multifamily asset offers six renovated residential units and one income-producing commercial office space with on-site parking, creating an appealing blend of predictable cash flow and long-term value appreciation potential. The property's advantageous corner orientation delivers exceptional light, air, and visibility, enhancing both residential livability and commercial desirability.
Ozone Park continues to attract renters seeking larger floorplans and more attainable pricing compared to neighboring Woodhaven and Richmond Hill, supporting healthy rent growth and low vacancy across the submarket. The property sits only a few blocks from the J and Z trains along Woodhaven Boulevard and Jamaica Avenue, offering efficient connections to Brooklyn, Lower Manhattan, and key employment corridors across Queens. Atlantic Avenue’s diverse lineup of small businesses, restaurants, and local services is just steps away, reinforcing the property’s walkability and everyday convenience.
Financial performance is supported by fully free-market status across all six residential units, presenting a rare opportunity for steady near-term cash flow with a clear path to additional upside by bringing rents toward market levels. Current scheduled annual income totals approximately $380,851 with a reported net operating income of $273,562, reflecting a cap rate of 6.08 percent at the $4,500,000 asking price. The property benefits from modest operating expenses and simple management requirements, further strengthening long-term yield stability.
Situated in a neighborhood with rising household incomes, strong transit access, and a balanced mix of residential and commercial activity, 93-02 95th Avenue represents an attractive turnkey investment with dependable in-place returns and meaningful organic growth potential within a high-demand Queens enclave.