1040 McBride St 6 Unit Apartment Building $1,910,745 CAD ($318,458 CAD/Unit) 9.13% Cap Rate Far Rockaway, NY 11691

Free Market Property! Upgraded! 3 unit Multi-Family + Detached Garage on 7,500 SF Lot! PRIME LOCATION!
Apt 1 ( Approx 2200 SF Duplex ) Delivered Vacant
Apt 2 ( Approx 1,600 sf Flex 4 Bed w/balcony) Sec 8 NYCHA $3,900
Apt 3 ( Approx 900 SF 3 Bed ) Delivered Vacant.
NOTE: Apt 1 and the basement is being renovated. Ask is post renovations. Owner will consider offers pre-renovation.
Apt 2 and 3 have been renovated.
The Perfect Opportunity to live in your investment,RENT FREE!
Future Multi Family Development Opportunity with the City Of Yes !
High Yield Projected 9.3% Cap Rate.
Walk to Subway A Train,(LIRR) Long Island Rail Road, All Busses to Nassau County, Queens, Brooklyn and Ferry Service to Manhattan. Far Rockaway, located in Queens, New York, is accessible via several public transportation options:
Subway:
Over the past decade, Far Rockaway has experienced significant development, enhancing its infrastructure, housing, and community amenities. Notable projects include:
Far Rockaway, long known for its stunning beachfront and historic charm, is undergoing a remarkable transformation into a vibrant, modern community. This evolution is driven by a blend of public and private investments, reshaping the neighborhood into a hub for living, working, and recreation while retaining its unique character.
Rockaway Village Development: A multi-phase initiative introducing approximately 1,700 affordable housing units across eight buildings near the Far Rockaway-Mott Avenue subway station. This project also incorporates retail spaces and community facilities, aiming to revitalize the area.
LETTIRE.com
Edgemere Commons: A mixed-use development on the former Peninsula Hospital site, featuring 2,050 affordable apartments, retail spaces, and a 35-acre nature preserve. The first phase includes a 17-story building with 194 affordable units and a 23,000-square-foot supermarket.
6SQFT.com
Beach 21st Street Development: This project has transformed vacant city-owned land into a mixed-use development with affordable housing, daycare facilities, and retail spaces, contributing to the area's revitalization.
NYC.GOV
Arverne East Aquatic Center: A $46.1 million investment has introduced the first public pool to the Arverne and Edgemere neighborhoods, enhancing recreational facilities for residents.
METROPOLITAN TRANSIT AUTHORITY (MTA)
A Train: Provides service to the Far Rockaway–Mott Avenue station.
Long Island Rail Road (LIRR):
Far Rockaway Branch: Offers commuter rail service to the Far Rockaway station, which is accessible and equipped with amenities such as ticket machines, a waiting area, and customer service.
FERRY SERVICE:
NYC Ferry offers a scenic and affordable way to see New York City landmarks for just $4 per ride, covering routes through Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. Passengers can enjoy views of the skyline and major attractions with a drink from the onboard bar.
Nassau County Bus Services (NICE Bus System):
N32 Bus: Runs from Hempstead Transit Center to Far Rockaway, traveling via Hempstead Avenue and Broadway with multiple local stops.
N31 Bus: Operating between Hempstead Transit Center and Far Rockaway, this bus provides local service with several stops.
N33 Bus: A loop route connecting Far Rockaway to Long Beach, providing service to both coastal areas.
MTA BUS ROUTES:
Q22 Bus: Operates along Rockaway Beach Boulevard, connecting various neighborhoods, including Far Rockaway.
Q35 Bus: Provides service along Beach Channel Drive, connecting Far Rockaway to other parts of Queens.
Q53 SBS (Select Bus Service): Offers faster service along Rockaway Beach Boulevard, with limited stops.
QM17 Bus: An express bus connecting Far Rockaway to Midtown Manhattan via Beach Channel Drive, Rockaway Beach Boulevard, and Cross Bay Boulevard.
Q111, Q113, and Q114 Buses: These routes connect the Jamaica and Far Rockaway neighborhoods of Queens, running primarily along Guy R. Brewer Boulevard. The Q113 and Q114 offer limited-stop service between Jamaica and Far Rockaway, crossing into Nassau County.