3 Unit Multifamily Investment + Air Rights For Sale

66-11 Austin Street, 66-11

$1,200,000 3520 SF
3 Unit Multifamily Investment + Air Rights For Sale

Modern Spaces is pleased to announce that we have been exclusively retained to handle the disposition of 66-11 Austin Street. The property is a 3 family walk up apartment building in the heart of Rego Park.

The building offers a two-bedroom unit on the ground floor, a three-bedroom unit on the second floor and a three-bedroom unit on the third floor that is currently divided into two one-bedroom apartments. In addition, there is an unoccupied super’s unit in the basement with its own entryway. The second and third floor units offer balconies on the front and rear of the building.

There is one parking space available to rent at the rear of the building and coin operated laundry appliances in the basement.

This property offers an excellent opportunity for an investor or 1031 exchange buyer looking for a building with upside and flexibility, as the third floor units can be kept separate or recombined into a three bedroom unit. There is significant room for rent growth and a new owner can more efficiently manage the building’s expenses including the utilities and taxes which are unusually high for a three family building.

For more information about this property, including rent roll and expenses, please click the link below:

66-11 Austin Street Setup (PDF)

Status Active
Details
Price: $1,200,000
Type: Multi-family
Size (Approx): 3520 SF
Commercial
Units: 3
Pet Policy: No Pets
ID: 236814
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