47-51 40th Street Sunnyside, NY 11104
• A prominent six-story, elevator-serviced apartment building spanning approximately 58,800 gross square feet
• Situated on the east side of 40th Street, just 0.2 miles from the 7-subway line for an easy Manhattan commute
• Clean and well-maintained building with strong collections
• Features a strong mix of both fair-market and rent-stabilized apartments
• The property is a short walk to the iconic Sunnyside Arch on Queens Boulevard and the historic Sunnyside Gardens historic district
• Cash-flowing asset generating approximately $1,300,000 in gross annual income
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $8,600,000 |
| No. of Units: | 60 |
| Cap Rate: | 7.24% |
| GRM /GIM: | 6.72 |
| Building Size: | 58,800 Sq ft |
| No. of Stories: | 6 |
| Opportunity Zone: | No |
| Price per unit: | $143,333 |
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