5615 Van Cleef St
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5615 Van Cleef St
7 Unit Apartment Building $3,150,000 ($450,000/Unit) Flushing, NY 11368
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 100% Occupied Brand New 7 Unit Apartment Building In Flushing For Sale!!!
- The Building Was Built In 2022!!!
- Neighbors Include Nike, The Home Depot, Target, Costco, 7-Eleven, Mobil, Gulf, T.J. Maxx, Marshalls, Raymour & Flanigan, Macy’s, +++!!!
- The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 9’ Ceilings, Strong R6B Zoning, (1) 2 Br. Apt., (6) 1 Br. Apts., +++!!
- The Property Is Located In The Heart Of Corona Just Off The Grand Central Parkway, I-495 & Situated Near Citifield, Flushing Meadows Corona Park, +++!
- This Property Offers HUGE Upside Potential!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 100% Occupied Brand New 7 Unit Apartment Building In Flushing For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 9’ Ceilings, Strong R6B Zoning, (1) 2 Br. Apt., (6) 1 Br. Apts., Basement Office, Security Camera System, Large Rear Yard, Separate Meters, Strategically Placed Curb Cut, All New LED Lighting, Sprinklers, 3 Phase Power, A/C, +++!!! The Building Was Built In 2022!!! The Property Is Located In The Heart Of Corona Just Off The Grand Central Parkway & I-495!!! The Property Is Situated Near Citifield, Flushing Meadows Corona Park, Queens Zoo & The Queens Museum!!! Neighbors Include Nike, The Home Depot, Target, Costco, 7-Eleven, Mobil, Gulf, T.J. Maxx, Marshalls, Raymour & Flanigan, Macy’s, New York Sports Club, Maaco Auto Body, Olive Garden, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!
Income:
Unit 1A (2 Br.): $31,800 Ann.
Unit 2A (1 Br.): $20,700 Ann.
Unit 2B (1 Br.): $25,200 Ann.
Unit 3A (1 Br.): $20,700 Ann.
Unit 3B (1 Br.): $25,200 Ann.
Unit 4A (1 Br.): $21,312 Ann.
Unit 4B (1 Br.): $25,200 Ann.
Parking: $1,800 Ann.; M-M.
Basement Office: $8,400 Ann.; M-M.
Expenses:
Gas: $792 Ann. (Common Area Only)
Electric: $1,320 Ann. (Common Area Only)
Maintenance & Repairs: $250 Ann.
Insurance: $6,589 Ann.
Water: $3,852 Ann.
Taxes: $3,034 Ann.
Total Expenses: $15,837 Ann.
Current Gross Income: $180,312 Ann.
Net Operating Income (NOI): $164,475 Ann.
Income:
Unit 1A (2 Br.): $31,800 Ann.
Unit 2A (1 Br.): $20,700 Ann.
Unit 2B (1 Br.): $25,200 Ann.
Unit 3A (1 Br.): $20,700 Ann.
Unit 3B (1 Br.): $25,200 Ann.
Unit 4A (1 Br.): $21,312 Ann.
Unit 4B (1 Br.): $25,200 Ann.
Parking: $1,800 Ann.; M-M.
Basement Office: $8,400 Ann.; M-M.
Expenses:
Gas: $792 Ann. (Common Area Only)
Electric: $1,320 Ann. (Common Area Only)
Maintenance & Repairs: $250 Ann.
Insurance: $6,589 Ann.
Water: $3,852 Ann.
Taxes: $3,034 Ann.
Total Expenses: $15,837 Ann.
Current Gross Income: $180,312 Ann.
Net Operating Income (NOI): $164,475 Ann.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$180,312
|
$35.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$180,312
|
$35.15
|
| Taxes |
$3,034
|
$0.59
|
| Operating Expenses |
$12,803
|
$2.50
|
| Total Expenses |
$15,837
|
$3.09
|
| Net Operating Income |
$164,475
|
$32.06
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $180,312 |
| Annual Per SF | $35.15 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $180,312 |
| Annual Per SF | $35.15 |
| Taxes | |
|---|---|
| Annual | $3,034 |
| Annual Per SF | $0.59 |
| Operating Expenses | |
|---|---|
| Annual | $12,803 |
| Annual Per SF | $2.50 |
| Total Expenses | |
|---|---|
| Annual | $15,837 |
| Annual Per SF | $3.09 |
| Net Operating Income | |
|---|---|
| Annual | $164,475 |
| Annual Per SF | $32.06 |
Property Facts
Unit Amenities
- Air Conditioning
- Balcony
- Refrigerator
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 700 |
| 2+2 | 1 | - | 800 |
Walk Score ®
Very Walkable (88)
Transit Score ®
Excellent Transit (76)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 01968-0073 | Total Assessment | $338,040 (2024) |
| Land Assessment | $131,147 (2024) | Annual Taxes | $3,034 ($0.59/SF) |
| Improvements Assessment | $206,893 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01968-0073
Land Assessment
$131,147 (2024)
Improvements Assessment
$206,893 (2024)
Total Assessment
$338,040 (2024)
Annual Taxes
$3,034 ($0.59/SF)
Tax Year
2023
zoning
| Zoning Code | R6B |
| R6B |
-
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5615 Van Cleef St
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