**Commercial Sale**
**54-Unit Apartment Building** Asking $11,900,000
37-51-37-57 80th Street Jackson Heights, NY 11372
We are excited to present an exceptional investment opportunity in Jackson Heights, Queens County, NY. This well-maintained apartment building comprises two adjacent brick structures, each containing 27 units. The units consist of 15 one-bedroom apartments and 12 two-bedroom apartments. The vacancy rate, which has historically been at “0”, is, due to the steady rental demand in Jackson Heights, fueled by cultural appeal and a diverse population. The building is conveniently located just steps away from the #7 subway line, making commuting to Manhattan easy for tenants. Situated in the northwestern part of Queens, Jackson Heights is bordered by Corona, Elmhurst, Woodside, and Astoria. It has excellent access to subway lines #7, E, F, M, and R. This investment offers stable cash flow and considerable long-term appreciation potential, particularly due to ongoing revitalization efforts in the area. This opportunity should be highly valued. Potentially attractive to private equity entities, institutional investors such as pension funds and insurance companies, family offices, and long-term individual investors. The government can also facilitate the purchase of rent-stabilized buildings by nonprofit housing providers through programs, attempting to preserve affordability.
**Description: **
– Total Lot Size: 150 ft x 100 ft, Total Building Dimensions: 150 ft x 80 ft
– Zoning District: R7-1
– Total Residential Square Footage: 41,500 sq ft (20,750 sq ft per building)
– Average Unit Size: 769 sq ft
– Residential Floor Area Ratio (FAR): 3.44
– Facility Floor Area Ratio (FAR): 4.8
– Undeveloped Square Footage: 10,050 sq ft
– Opportunity Zone: Yes
-Fuel- Oil Grade 2 Weil Maclain /508
-School district 30