Price Per Unit
$400,000
Units
5
Year Built
1931
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Prime Location: Strategically positioned on the corner of Myrtle Avenue and 71st Avenue, offering high visibility and accessibility.
- Residential Conversion Opportunity: The second floor will be delivered vacant, providing the potential to convert existing office units into four residential apartments, capitalizing on high demand for housing.
- Rent Roll Growth Potential: Current rents are significantly below market value, with market rents estimated to be 40-50% higher, offering substantial upside for income growth.
- Neighborhood Growth: Glendale, Queens is a highly sought-after area, benefiting from the ongoing spillover of development and demand from neighboring Bushwick and Williamsburg, making it one of the best-positioned neighborhoods in New York City.
Broker of Record
- Cory Rosenthal
- License No. 10311210106 (NY)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203