The two-story mixed-use property at 12-07 40th Avenue in New York is part of a redevelopment area where two new large hotels have already been completed. Built in 1901, the property comprises of a total size of 1,824 square feet and is perfect for investors and owner-users looking for a rental income rather than having to rent office space and carry all the costs.
12-07 40th Avenue in New York carries zoning for R6 with C3-4 commercial overlay. It is possible to add on to the existing structure with a maximum FAR 2.43. The lot size measures 25 x 100, which allows for an additional 6,000 square feet to be build.
Tenants at 12-07 40th Avenue in New York pay their own electric and heating. The property boasts three units, of which unit A is for retail and Unit B is a two-bedroom apartment. Unit C has three bedrooms.
This income property has the potential to generate $72,000 gross per annum with operating expenses of $10,280.
12-07 40th Avenue in New York features an attractive white and dark blue facade with early 20th century decorative stucco elements such as a cornice with dentils at its roof line.
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New York City