Property Description

This two-family home in East Elmhurst is a fantastic investment opportunity with significant earning potential. Here's a detailed breakdown of its features and benefits:### Investment Highlights- **Cap Rate**: 8%- **Projected Annual Income**: Approximately $140,000- **Additional Income**: Large parking lot potential for renting space for boats and jet skis, alongside car parking### Property Overview- **Location**: Prime East Elmhurst, with unobstructed views extending to Grand Central- **Type**: Legally permitted two-family, all-brick corner property- **Built**: 2006- **Stories**: Three above ground plus a basement- **Renovation**: Newly renovated with high ceilings and hardwood floors### Unit Configuration- **Total Bedrooms**: 3- **Total Bathrooms**: 4 - **First Floor**: - 1 bedroom - 1 bathroom - Kitchen and living room - **Second & Third Floors**: - Each with 2 bedrooms - Each with 2 bathrooms - Kitchen and living room - **Basement**: - Separate entrance - Storage room - 1 bathroom### Additional Features- **Outdoor Space**: Sitting area available for barbecues- **Parking**: - Multiple spaces for 4-5 cars - Potential for additional income from renting space for boats and jet skis- **Zoning**: R4- **Property Taxes**: Low at $8,882### Location Benefits- **Proximity to Transportation**: - Just a 2-minute walk to bus stops (Q19, Q69, Q33, Q47) - Convenient access for Manhattan commuters- **Nearby Amenities**: - Supermarkets, banks, restaurants, and other essential services are within easy reach### Ideal Use Cases- **Investors**: Strong income potential with high demand for rentals in the area- **Owner-Occupants**: Comfortable living space with options for rental incomeThis property combines modern amenities with a prime location, making it a great option for both investors and future homeowners.

Property Features

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