The subject property
consists of seven contiguous lots located on the south side of 155th Avenue,
west side of 79th Street and east side of Sapphire Street/78th Street in
Lindenwood. Each lot contains a three story building consisting of (6)
apartments for a total of (7) buildings and (42) residential units, many of
which have balconies. All of the apartments, except for 3, are free market and
not subject to any rent stabilization guidelines.
These well maintained buildings have an average
monthly rent of $893, which equates to approx. 77% of current market value,
offering tremendous upside potential to an investor. The property is located in
a pristine residential neighborhood close to Howard Beach, Cross Bay Boulevard,
the Belt Parkway and the Q21 and Q41 bus lines.
Click here for listing details.
Neighborhoods: Lindenwood/ Agents: Brian Sarath