6-Unit Rent Stabilized Building in Sunnyside - Less than 1 block off of Queens Boulevard

Located at 45-35 40th Street in the prime neighborhood of Sunnyside, NY, this six-unit residential property is available for an asking price of $1,288,888. The building, constructed in 1927, spans 3,684 square feet and sits on a 2,000 square foot lot with dimensions of 20x100 feet. The property benefits from its proximity to Queens Boulevard, offering excellent access to transportation, shopping, and dining, making it highly attractive for renters. The property generates a gross residential income of $97,733, with a net operating income of $39,636 after accounting for total expenses of $53,211, which include taxes, insurance, water & sewer, repairs & maintenance, management fees, electricity, and heating. This results in a cap rate of 3.07% at the asking price, providing a solid return for potential investors. The building has undergone several recent renovations, enhancing its appeal and reducing future capital expenditure needs. These updates include new aluminum windows and a boiler, both five years old, as well as a hot water heater, radiator valves, and chimney, all updated within the last year. Additionally, the roof has been recently coated and capped, ensuring the property is well-maintained and ready for continued tenancy.