136-20 Cherry Ave
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136-20 Cherry Ave
10 Unit Apartment Building $4,990,000 ($499,000/Unit) 4.57% Cap Rate Flushing, NY 11355
Investment Highlights
- Prime Flushing Location, 0.6 miles to 7 Train and LIRR Station
- All units sub-metered, tenants are responsible for their own utility bill.
Executive Summary
B SQUARE REALTY has been retained on an exclusive basis to market for sale, 136-20 Cherry Ave, a 5-story brick mixed-use building in Flushing. Built in 2016,
this elevator building consists of 4 community facilities and 8 residential units. All residential units are currently tenant occupied and the 4 units of community facilities will be delivered vacantly. The building is eligible for a 15-years 421-A Tax abatement. The property is situated at a corner lot, only one block from Main St and Queen Botanical Gardens, it is near all the best restaurants, shops and convenient lifestyle Flushing has to offer. The nearby rental market is HOT, very low vacancy rate, and easy to maintain! Great investment opportunity or 1031 exchange opportunity
this elevator building consists of 4 community facilities and 8 residential units. All residential units are currently tenant occupied and the 4 units of community facilities will be delivered vacantly. The building is eligible for a 15-years 421-A Tax abatement. The property is situated at a corner lot, only one block from Main St and Queen Botanical Gardens, it is near all the best restaurants, shops and convenient lifestyle Flushing has to offer. The nearby rental market is HOT, very low vacancy rate, and easy to maintain! Great investment opportunity or 1031 exchange opportunity
Property Facts
| Price | $4,990,000 | Apartment Style | Mid Rise |
| Price Per Unit | $499,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 4.57% | Building Size | 85,607 SF |
| No. Units | 10 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2015 |
| Property Subtype | Apartment |
| Price | $4,990,000 |
| Price Per Unit | $499,000 |
| Sale Type | Investment |
| Cap Rate | 4.57% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 85,607 SF |
| No. Stories | 5 |
| Year Built | 2015 |
Site Amenities
- Elevator
1 of 1
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 05141-0049 | Improvements Assessment | $507,030 |
| Land Assessment | $165,150 | Total Assessment | $672,180 |
PROPERTY TAXES
Parcel Number
05141-0049
Land Assessment
$165,150
Improvements Assessment
$507,030
Total Assessment
$672,180
zoning
| Zoning Code | R6 (Medium density residential district) |
| R6 (Medium density residential district) |
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136-20 Cherry Ave
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