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11702 Jamaica Ave 2 Unit Apartment Building $2,639,479 CAD ($1,319,739 CAD/Unit) 6.50% Cap Rate Richmond Hill, NY 11418
Executive Summary
Corner mixed-use investment property located at 117-02 Jamaica Ave, Richmond Hill, NY 11418, offering strong in-place income, long-term tenancy stability, and a solid cash flow profile with a corner location and strong street visibility. The property generates approximately $140,580 in gross annual income, consisting of a ground-floor commercial unit at $5,250/month plus $200/month parking income, and two residential units (4-bedroom at $3,750/month and 3-bedroom at $2,515/month). The commercial tenant has approximately 15 years remaining on the lease and contributes to operating expenses, while residential tenants pay electricity, with the landlord covering certain utilities.
Annual Expenses:
- Real Estate Taxes: $10,500/year (33% reimbursed by commercial tenant)
- Insurance: $5,500/year (33% reimbursed by commercial tenant)
- Water: $2,400/year (30% reimbursed by commercial tenant)
Annual Expenses:
- Real Estate Taxes: $10,500/year (33% reimbursed by commercial tenant)
- Insurance: $5,500/year (33% reimbursed by commercial tenant)
- Water: $2,400/year (30% reimbursed by commercial tenant)
Property Facts
| Price | $2,639,479 CAD | Property Subtype | Apartment |
| Price Per Unit | $1,319,739 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 6.50% | Building Size | 20,000 SF |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1931/1998 |
| Zoning | R3-1, Queens, (S3) | ||
| Price | $2,639,479 CAD |
| Price Per Unit | $1,319,739 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 20,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1931/1998 |
| Zoning | R3-1, Queens, (S3) |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $189,545 CAD | |
| Land Assessment | $56,255 CAD | Total Assessment | $245,800 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$56,255 CAD
Improvements Assessment
$189,545 CAD
Total Assessment
$245,800 CAD
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Kingsland Properties
11702 Jamaica Ave
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