72-14 69th Place is a three (3)-story investment property built approx. forty seven hundred square feet (4700SF) in the Glendale area of Queens, New York. Comprised of six units total, five are free market with one remaining rent stabilized, bringing in approx.. $160,000/yr from the existing rent roll. Currently configured into a collection of recently renovated three-bedroom and four-bedroom (3BR & 4BR) apartments, all with newly outfitted kitchens, baths, hardwood floors, and washer/dryer in units. The building has been recently updated with a new boiler, electric and roof. Delivered fully occupied with an actualized cap rate of 4.71% OR a net operating income (NOI) of over $116,750/yr.
Glendale is conveniently located just 15-20 mins. from both JFK & La Guardia Airports, and has subway access via the the L train at Wyckoff/Myrtle Ave stop via the Q55 bus or the M line at Fresh Pond Road. 72-14 69th Place is located on the corner of Cooper Ave, which along with Myrtle Avenue comprises the major thoroughfare for restaurants and retail business in the area that reflect this neighborhood's character and charm. Surrounded by favorites like Zum Stammtisch, Edison Place, K&A, Sweet Janes, The Monk, Glendale Bagles, and Russo Bakery, as well as local amenities such as supermarkets, pharmacies, dry cleaners, and major banks like Capitol One & Bank of America. Please inquire for full setup.
Listing Agent: Dain Lee
Courtesy of: Douglas Elliman 490 Driggs Ave
Office Phone: 718.486.4400
Updated: 23rd February, 2018 11:53 AM.
72-14 69th Pl Long Island, NY