5201 Skillman Avenue, Woodside, NY 11377

• 5,850 sqft

Property Description

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%!

Listing Status:

Active

Listing Office:

RealTegrity NY LLC : 917-623-8874

MLS ID:

916861

Interior

• Basement: FullPartially FinishedStorage Space
• A/C: Wall/Window Unit(s)
• Heating: Natural GasRadiant

Exterior

• Parking: Parking LotParking spaces: 2

Location

• Originating MLS: onekey2
• County: Queens

Lot

• Zoning: C201238-0005
• Fencing: BrickChain Link

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedTrash Collection Public
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2

This listing courtesy of RealTegrity NY LLC