Douglas Elliman Real Estate has been retained on an exclusive basis for the sale of 11-36 31st Avenue located right between the LIC and Astoria Border. Built in 1930, this fully occupied 4 story mixed-use building consists of 5 residential apartments and 1 commercial office space on the ground floor. This offering represents a unique opportunity for investors to purchase an extremely well maintained building in a prime location with tremendous upside. Each apartment in the building has been meticulously renovated in the last 2 years. The building also has 2,500 SF of air rights that can be used to build 2 additional apartments by raising the building to 5 stories. Please contact the listing agents for more information. Financial Information: - Gross Rental Income: $236k - Total Expenses: $34k - NOI: $202k - Net Cap Rate 4.7% Building Information: - Residential Units: 5 - Commercial Units: 1 - Building Size: 25 x 75 - Lot Size: 25 x 100 - Zoning: R7A - FAR: 4 - Unused FAR: 2,500 - Total Current Building SF: 7,500
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