About 37-11 9th Street
Calling All Investors, Developers, & End-Users!!! 8 Unit Apartment Building In Long Island City For Sale!!! The Property Features Excellent Signage, Great Exposure, M3-1 Zoning, High 8’ Ceilings, (8) 2 Br. Apartments, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Ravenswood Only A Few Blocks From The Ed Koch Queensboro Bridge Offering Direct Easy Access To Manhattan!!! Neighbors Include Hilton Hotels, Marriott Hotels, Wyndham Hotels, Dodge-Jeep-Ram, Honda. T-Mobile, The Home Depot, CubeSmart Self Storage, Best Buy, Dunkin’, Planet Fitness, Marshalls, Michaels, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site/The Next Home For Your Business!!!
Income:
Unit 1 (2 Br., 1 Bath): $24,030 Ann.
Unit 2 (2 Br., 1 Bath): $23,620 Ann.
Unit 3 (2 Br., 1 Bath): $23,400 Ann.
Unit 4 (2 Br., 1 Bath): $17,383 Ann.
Unit 5 (2 Br. 1 Bath): $26,680 Ann.
Unit 6 (2 Br., 1 Bath): $26,823 Ann.
Unit 7 (2 Br., 1 Bath): $24,800 Ann.
Unit 8 (2 Br, 1 Bath): $26,861 Ann.
Current Gross Income: $193,597 Ann.
Expenses:
Oil: $8,098.47 Ann.
Electric: $720 Ann. (Common Area Only)
Maintenance & Repairs: $250 Ann.
Insurance: $4,044.41 Ann.
Taxes: $19,750 Ann.
Water: $5,322 Ann.
Total Expenses: $38,184.88 Ann.
Net Operating Income (NOI): $155,412.12 Ann. (7.23% Cap!!!)
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