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148-36 89th Ave
Jamaica, NY 11435
22 Unit Condo Package · Multifamily Property For Sale
·
22 Units
Investment Highlights
- Free Market
- Commute Paradise
- Spacious Media Rooms
- 8 Parking Spaces
- Minutes to Jamaica Hospital
Executive Summary
Prime Transit-Oriented Bulk Condo Offering: Downtown Jamaica, Queens | 22 Residential Units & 8 Parking Spaces An exceptional investment opportunity in one of New York City’s most dynamic and accessible transit hubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies. The Offering: Discover a modern, eight-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds. • The Portfolio: 22 Premium Residential Units + Two Media/Recreational Rooms + 8 On-Site Parking Spaces. • The Building: 8-Story Elevator Asset with a Full Cellar and 22 total apartment units. • The Control: Immediate majority control of the condominium board. Unmatched Connectivity. Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile. Residents enjoy effortless commutes across New York City and Long Island. *2 Blocks to F Train (Sutphin Blvd/Hillside) *4 Blocks to F Train (Parsons Blvd/Hillside) *Short Walk to Jamaica Center Hub (E, J, Z Trains & LIRR) • Subway Access: Immediate access to the F, E, J, and Z lines. • Commuter Rail: Minutes from Jamaica Station (LIRR) for rapid transit to Manhattan, Brooklyn, and JFK Airport. • Surface Transit: Steps from major bus lines, including the Q20A, Q20B, Q40, and Q43 on Sutphin Boulevard. Investment Highlights: • High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a highdensity, low-vacancy asset. • Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units over time to maximize total ROI. • Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape.
Property Facts
| Price Per Unit | $758,329 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4% | Building Size | 31,919 SF |
| Gross Rent Multiplier | 15 | No. Stories | 8 |
| No. Units | 22 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 0.32/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Hi-Rise | ||
| Zoning | R7A - multi-family residence | ||
| Price Per Unit | $758,329 CAD |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 15 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 31,919 SF |
| No. Stories | 8 |
| Year Built | 2021 |
| Parking Ratio | 0.32/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R7A - multi-family residence |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Eat-in Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Intercom
- Recreation Room
- Smoke Free
Site Amenities
- Laundry Facilities
- Gameroom
- Wheelchair Accessible
- Gas Range
- Smoke Free
- Bicycle Storage
- Conference Rooms
- Elevator
- Lounge
- Multi Use Room
- Public Transportation
- Individual Leases Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $4,032 CAD | 673 |
| 2+2 | 14 | $4,588 CAD | 1,016 |
Property Taxes
| Parcel Number | 09681-1116 | Improvements Assessment | $78,068 CAD |
| Land Assessment | $10,419 CAD | Total Assessment | $88,487 CAD |
Property Taxes
Parcel Number
09681-1116
Land Assessment
$10,419 CAD
Improvements Assessment
$78,068 CAD
Total Assessment
$88,487 CAD
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