37-29 103rd Street

Description

Prime Location: Mixed-use building for Sale in Bustling Commercial Districts . A well-designed layout suitable for a restaurant that has 1750 sqft, including the basement, the monthly rent is $12,000. Plus 4 luxury residences. Two two-bedroom, one living room, and one bathroom on the second floor. The current monthly rents for each is $2,000. Each unit has the potential to be rented for $2500 to $2950. The third and fourth floors are two duplexes with three bedrooms, one living room and two bathrooms , the current monthly rents for each is $2,350. Each one has the potential to be rented for $3200 to $3500. All residential tenants no longer have a lease and can sign a new one. Only 1 block away from 7 train 103 StCorona Plaza, close to major highways, shops, and restaurants, convenient to all. A rapidly growing area with increasing property values and rental demand. Perfect for both self-use and investment. Free Market Zoning districts: R6B, C1-4 Building Size: 5,700SF (25' x 70') Lot Size: 2,500 SF (25' x 100') Taxes: $39,903 Current Monthly Rent: $20,550 Total Yearly Rent: $246,600 Yearly Expenses: $40,000 NOI now : $206,600 Recent CAP Rate: 6.89% (After the new lease is signed, the cap rate will be raised over 8.% ) All informations you have to be verified by the buyer.