VERY GOOD PROPERTIES FOR INVESTMENT IN GOOD INCOME AND LOCATION IN QUEENS ADDRESS: 202-06/202-08/202-10/202-14/202-16/202-20 109 AVE HOLLIS, N.Y. (BETWEEN 109TH & HOLLIS AVENUE) DESCRIPTION: Built in the 1930's, the subject property has six buildings. The 109 Ave is 6 -2-family units, Buildings are brick and mason construction, 2 stories high with a full size basement. Combined. LOTS RANGE SIZE: 20-22 x 60-100 BUILT: 1934 LAYOUT: Mixed 2 & 3 beds /1bath Total apartments: 12 BLOCK / LOTS: 10905/12,13,14,15,16,17, ZONING: B2 PRICE: $ 2,450,000 Improvements: All building wide systems were upgraded in the last 5 years and are in excellent working condition. New Sewer/water lines have been installed and separated per address. Each tenant pays for their own electric and cooking gas. The current rents are 30% below market, which poses tremendous upside in potential income All utilities have separate meters for each unit. The property is located in a dense residential neighborhood just north of Hollis Avenue and only four blocks west of Francis Lewis Boulevard. The property is conveniently located near the LIRR Hollis Station and the Q2 bus stop outside the property (SEE ATTACHED RENT ROLL) 202-06 1F 3 BR $1,601.40 $19,216.80 M-M Not-for-Profit Org. 202-06 2F 3 BR $1,900.00 $22,800.00 1/31/16 Not-for-Profit Org. 202-08 1F 3 BR $1,120.39 $13,444.68 M-M Legacy / RS 202-08 2F 2 BR $1,127.75 $13,533.00 M-M Legacy / RS 202-10 1F 3 BR $1,570.00 $18,840.00 M-M Not-for-Profit Org. 202-10 2F 3 BR $1,311.19 $15,734.28 6/30/16 Legacy / RS 202-14 1F 2 BR $1,259.32 $15,111.84 11/30/16 Legacy / RS / Section 8 202-14 2F 3 BR $1,900.00 $22,800.00 11/30/15 Not-for-Profit Org. 202-16 1F 2 BR $1,039.41 $12,472.92 M-M Legacy / RS 202-16 2F 2 BR $1,205.11 $14,461.32 12/31/16 Legacy / RS / Section 8 202-20 1F 3 BR $1,535.00 $18,420.00 11/30/15 Not-for-Profit Org. 202-20 2F 2 BR $1,081.11 $13,069.32 7/31/16 Legacy / RS / Section 8 TOTAL $116,658.68 $199,904.16 Income: Apartments per year $ 205,767.36 Estimated Taxes (14/15) $ 26,454.00 Expenses: Water & Sewer $ 3,300.00 Insurance $ 3,600.00 Utilities $ 2,000.00 TOTAL EXPENSE $ 35,354.00 Net Operating Income: $ 170,413.36 ADDRESS APARTMENT# MONTHLY RENT SALE BYE OWNER - 646-573-8893 SAM
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
