Cindy DeMartino
5201 Skillman Avenue, Woodside, NY, 11377
1924
6 Family walk-up with 2 car parking lot in great condition, located on the corner of Skillman Ave and 52nd St on the Woodside/Sunnyside border. The building has been "babied" by the same owner for 30+ years and professionally managed since 2022. Located 1 block away from the 7 train, and no violations, this is a great opportunity for any investor. Keep the current management company in place to create a true hands-off, passive income, revenue stream! All apartments are 3 bedrooms/1 bathroom, box layout, fully occupied, and all tenants have leases. An apartment will not be vacant at closing, the buyer should be looking to buy purley as an investment property. All tenants pay on time and there is no arrears. The building has 5 rent stabilized apartments, 1 rent controlled apartment, a 2 car parking lot, and the building has been realisticlay priced accordingly. The total current income is $10,330.83, and the 2026 Proforma Rent Roll after all apartments are increased by the approved 4.5% and parking rent is $12,400. The yearly expenses including common area electric, water, heat, insurance, property tax, and repairs are approximately $50,000 a year, including a $5,550 SCRIE Credit. With net income of almost 100K a year, the asking price of $1,400,000 = a cap rate of 7%!
Status:
Pending
Type:
Commercial
Units:
6
Heating:
Natural Gas, Radiant
Cooling:
Wall/Window Unit(s)
Basement:
Full, Partially Finished, Storage Space
Levels:
3
Parking:
2-car, Parking Lot
Acreage:
0.06
Est. Taxes:
$20,661
Construction
Brick
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Trash Collection Public
Lot Description:
Corner Lot, Level, Near Public Transit
Days on Market:
85
MLS #:
916861
Community Info
School Info
Walk Score
Mass Transit
Yelp
Listing courtesy of RealTegrity NY LLC 917-623-8874