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146-17 Hillside Ave
Jamaica, NY 11435
Multifamily Property For Sale
·
24 Units
INVESTMENT HIGHLIGHTS
- Located in the Jamaica Rezoning District with strong growth momentum
- Excellent transit access: E, F, J, Z subways, LIRR, AirTrain JFK
- Strong in-place cash flow with minimal collection loss
- High-visibility retail corridor with long-term leasing stability
- Weighted toward one-bedroom units for consistent occupancy
EXECUTIVE SUMMARY
Positioned in the heart of Jamaica, Queens, 146-17 Hillside Avenue presents a rare opportunity to acquire a 24-unit mixed-use walk-up within the dynamic Jamaica Rezoning District. This four-story building features 23 residential units and one commercial space, offering income diversification and long-term leasing stability. The residential unit mix is weighted toward one-bedroom apartments, supporting consistent tenant demand and rapid turnover upon vacancy.
The property benefits from strong in-place cash flow with minimal collection loss and an attractive cash-on-cash return. With a current Net Operating Income of $213,570 and a cap rate of 7.36%, investors can expect solid performance from day one. The building sits on a high-visibility retail corridor undergoing active development and streetscape upgrades, enhancing its long-term value.
Transportation access is exceptional, with the F subway line at Sutphin Boulevard just steps away, and nearby E, J, Z subway lines, Jamaica LIRR Station, and AirTrain JFK all within walking distance. The surrounding neighborhood is experiencing robust growth in residential and mixed-use development, further strengthening tenant demand and positioning the asset for continued appreciation.
The property benefits from strong in-place cash flow with minimal collection loss and an attractive cash-on-cash return. With a current Net Operating Income of $213,570 and a cap rate of 7.36%, investors can expect solid performance from day one. The building sits on a high-visibility retail corridor undergoing active development and streetscape upgrades, enhancing its long-term value.
Transportation access is exceptional, with the F subway line at Sutphin Boulevard just steps away, and nearby E, J, Z subway lines, Jamaica LIRR Station, and AirTrain JFK all within walking distance. The surrounding neighborhood is experiencing robust growth in residential and mixed-use development, further strengthening tenant demand and positioning the asset for continued appreciation.
PROPERTY FACTS
| Price Per Unit | $168,674 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.36% | Lot Size | 0.14 AC |
| No. Units | 24 | Building Size | 20,834 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | R7A | ||
| Price Per Unit | $168,674 CAD |
| Sale Type | Investment |
| Cap Rate | 7.36% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 20,834 SF |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | R7A |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 09702-0067 | Improvements Assessment | $880,120 CAD |
| Land Assessment | $182,750 CAD | Total Assessment | $1,062,870 CAD |
PROPERTY TAXES
Parcel Number
09702-0067
Land Assessment
$182,750 CAD
Improvements Assessment
$880,120 CAD
Total Assessment
$1,062,870 CAD
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