20-14 29th St Astoria, 29th., st., New York, NY, 11105
$1,589,000
$2,200,000
activeLot Size
2,500 sqft
Year Built
1931
Stories
4
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
6 family building with vacant 1200 sq ft store front on ground floor formerly a bar. No rent controlled apartments. Only rent stabilized. Roof is 6 years old. Gas fired steam heat. Gas furnace is 6 years old. There are (3) - 1 bedroom apartments and (3) - 2 bedroom apartments. Pro forma annual Income $187,000 Annual Expenses: Taxes $18,630 Gas and Electric $9,033 Insurance $11,531 Water $7,958 Misc Repairs $3,300=$50,542. NOI $136,458. Cap Rate 8.58% Rent Increases in Rent Stabilized Homes: 1-year lease. 2.75%. 2-year lease 5.25%
Listed by Joseph D. Ferone CBR, Weichert Realtors TMT Group
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