Legal quadruplex semi-detached building on a quiet residential block in Astoria, near transportation and just 15 minutes to Midtown Manhattan. Close to the waterfront and Astoria Cove.
Layout:
1st Floor: Studio + utilities room
2nd Floor: 3 bedrooms, 2 full baths, LR, kitchen
3rd Floor: Two 1-bedroom units, each with kitchen, LR/DR & balcony
Features multiple balconies, 1 indoor garage, and 3 outdoor parking spaces.
All units rented with excellent tenants.
Gross Income: $120,600/year
Annual expenses (paid by landlord):
Taxes: $10,000
Heat & cooking gas: approx. $11,000
Water: approx. $6,000
Insurance: approx. $4,500
Actual CAP Rate: 5.2%