Multi-Family Building in Flushing, NY

42-38 159th ST, FLUSHING, NEW YORK 11358

Executive Summary:

Price: $1,800,000
Building Size:  3,140 SF
Property Type: Multi-Family
Number of Units: 3
Year Renovated: 2018
Cap Rate: 5.46%
NOI: $98,260
42-38 159th St, Flushing, NY 11358

Investment Highlights

  • Fully-Occupied 3 Family Property in Prime Flushing Area
  • 7 Bedrooms, 4 Bathrooms
  • All Utilities are Separately Metered – Fully Paid by Tenants
  • High Income Producing Property
  • Low Taxes
  • Fully Renovated in 2018
  • Property Does Not Have a Basement
  • All Brick Building
  • 1 Car Garage, Two Driveways
  • Walking Distance to Bus Stations and LIRR Broadway Station
  • Close Proximity to the Murray Hill Plaza, H-Mart Supermarket, IHOP Restaurant, Auto Zone, and Numerous Restaurants and Local Stores

Investment Summary

American Investment Properties is retained to sell the property located at 42-38 159th St, Flushing. At this location is a 3-family building. The building was fully renovated in 2018 and is a high-incomeproducing property. The building is all brick and all utilities are separately metered.

About Flushing, NY

Flushing is a neighborhood in the north-central portion of the New York City borough of Queens. The neighborhood is the fourthlargest central business district in New York City. Downtown Flushing is a major commercial and retail area, and the intersection of Main Street and Roosevelt Avenue at its core is the third-busiest in New York City, behind Times Square and Herald Square. Flushing contains numerous residential subsections, and its diversity is reflected by the numerous ethnic groups that reside there. Flushing is served by several stations on the Long Island Rail Road’s Port Washington Branch, as well as the New York City Subway’s IRT Flushing Line (7 and <7>? trains), which has its terminus at Main Street.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
[email protected]
(O) 516.393.2300
(F) 516.390.5780

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