8732 114th Street, Richmond Hill, NY 11418
- $1,299,000
- List Price
- $1,299,000
- Status
- ACTIVE
- MLS#
- 1016032
- Number of Families
- 6
Property Description
**Updated Cap Rate Calculation** * Annual Gross Income: **$125,741** * Annual Expenses: **$46,487** * Net Operating Income (NOI): **$79,254** * Asking Price: **$1,299,000** **Cap Rate = NOI ÷ Purchase Price × 100** **$79,254 ÷ $1,299,000 = 6.10% Cap Rate** --- ### Property Remarks Exceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.
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Additional Information
- Lot Size
- 2500
- Basement
- Full, Unfinished, Walk-Out Access
- Year Built
- 1930
- School District
- Queens 27
- Taxes
- $24,233
- Heating
- Oil
- Parking
- On Street
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Chandar Persaud (bob4homes@yahoo.com) from Listing Office: Elite Realty of USA Inc.
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.