4115 49th St, Sunnyside, NY, 11104

About This Home

A well-maintained six-family brick apartment building located in the heart of Sunnyside, Queens. The property consists of six spacious two-bedroom, one-bathroom apartments, each approximately 900 square feet. Unlike many neighborhood buildings, all units feature highly desirable box-style layouts rather than railroad configurations. Every bedroom comfortably accommodates a king-size bed, while the generously sized 16' x 16' living rooms provide excellent livability for tenants. The building offers a strong and stable rent roll with a current gross annual income of approximately $172,965. There are four free-market apartments and two rent-stabilized units. Notably, all four free-market apartments are currently rented below market, presenting investors with significant long-term upside potential through future rent growth. Additional features include: • Six large 2-bedroom / 1-bath apartments • Attractive brick construction • Shared roof deck with skyline views • Private backyard for the first-floor unit • Gas heat • AC sleeves installed throughout (no window units required) • Live-in superintendent • DHCR registrations current and in good standing • No known arrears or housing court cases • Well-maintained ownership since 2007 Located on a quiet tree-lined block in Sunny side, the property benefits from convenient access to transportation, shopping, restaurants, and neighborhood amenities. Residents enjoy close proximity to the 46th Street-Bliss Street subway station, providing quick access to Midtown Manhattan. This is an excellent opportunity for both investors seeking long-term appreciation and end-users looking to acquire a well-positioned multifamily asset in one of Queens' most desirable rental markets. Financial Highlights - Asking Price: $1,800,000 - Current Gross Annual Income: Approximately $172,965 - Expenses: $59,142 - 6.32 CAP with great upside. - NOI: $113,822.76 Current Unit Mix: - 4 Free Market Apartments - 2 Rent Stabilized Apartments Operating statements and rent roll available upon request . VALUE-ADD OPPORTUNITY ! The Property consists of six oversized 2-bedroom apartments, including four free-market units and two rent-stabilized units. The four free-market apartments are currently rented below market and present a significant opportunity for future ownership to increase income through unit modernization and repositioning. Assuming market rents of approximately $55/SF, the free-market units could potentially achieve rents of approximately $4,125 per month. The two rent-stabilized apartments provide stable long-term occupancy and predictable annual rent growth. Current Gross Income : $172,965 Annually Illustrative Upside Scenario Free Market Units @ $4,125/month times 4 = $198,000 Rent Stabilized Units (3% Increase Assumed) times 2 = $27,856 Projected Gross Income : $225,856 Income Growth Potential Current Gross Income: $172,965 Projected Gross Income: $225,856 Potential Annual Increase: $52,891 This analysis is presented solely to illustrate potential future rental upside. Prospective purchasers should conduct their own independent analysis regarding market rents, operating expenses, and investment returns. Don’t Miss This Great Opportunity! *Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.