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  • $1,589,000

    2014 29th St, Long Island City, NY 11105

    9beds
    --sqft
    Mixed Use
    Built in 1931
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Gas fired steam heat
    6 family building with vacant 1200 sq ft store front on ground floor formerly a bar. No rent controlled apartments. Only rent stabilized. Roof is 6 years old. Gas fired steam heat. Gas furnace is 6 years old. There are (3) - 1 bedroom apartments and (3) - 2 bedroom apartments. Pro forma annual Income $187,000 Annual Expenses: Taxes $18,630 Gas and Electric $9,033 Insurance $11,531 Water $7,958 Misc Repairs $3,300=$50,542. NOI $136,458. Cap Rate 8.58% Rent Increases in Rent Stabilized Homes: 1-year lease. 2.75%. 2-year lease 5.25%
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