8732 114th StreetRichmond Hill, NY 11418

Description

Updated Cap Rate Calculation Annual Gross Income: $125,741 Annual Operating Expenses: $46,487 Net Operating Income (NOI): $79,254 Asking Price: $1,299,000 Cap Rate = NOI ÷ Purchase Price × 100 $79,254 ÷ $1,299,000 = 6.10% Cap Rate Property Remarks Exceptional investment opportunity in the highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price. The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens' most established neighborhoods.

Property Information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

1930

Building area

4,800 Sq Ft

Lot size

0.06 acres

Days on market

98

MLS^® Listing#

1016032

Property Features

Cooling

None

Heating

Oil

Basement

Full · Unfinished · Walk-Out Access

Parking

On Street

Construction

Brick

Utilities

Natural Gas Available · Electricity Available · Electricity Connected · Natural Gas Connected · Sewer Connected · Water Available

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$24,234

Assessed value

$289,800

Parcel number

09303-0019