4115 49th St 6 Unit Apartment Building $2,558,214 CAD ($426,369 CAD/Unit) 6.32% Cap Rate Sunnyside, NY 11104

A well-maintained six-family brick apartment building located in the heart of Sunnyside, Queens.
The property consists of six spacious two-bedroom, one-bathroom apartments, each approximately 900 square feet. Unlike many neighborhood buildings, all units feature highly desirable box-style layouts rather than railroad configurations. Every bedroom comfortably accommodates a king-size bed, while the generously sized 16' x 16' living rooms provide excellent livability for tenants.
The building offers a strong and stable rent roll with a current gross annual income of approximately $172,965. There are four free-market apartments and two rent-stabilized units. Notably, all four free-market apartments are currently rented below market, presenting investors with significant long-term upside potential through future rent growth.
Additional features include:
• Six large 2-bedroom / 1-bath apartments
• Attractive brick construction
• Shared roof deck with skyline views
• Private backyard for the first-floor unit
• Gas heat
• AC sleeves installed throughout (no window units required)
• Live-in superintendent
• DHCR registrations current and in good standing
• No known arrears or housing court cases
• Well-maintained ownership since 2007
Located on a quiet tree-lined block in Sunnyside, the property benefits from convenient access to transportation, shopping, restaurants, and neighborhood amenities. Residents enjoy close proximity to the 46th Street-Bliss Street subway station, providing quick access to Midtown Manhattan.
This is an excellent opportunity for both investors seeking long-term appreciation and end-users looking to acquire a well-positioned multifamily asset in one of Queens' most desirable rental markets.
Financial Highlights
Asking Price: $1,800,000
Current Gross Annual Income: Approximately $172,965
Expenses: $59,142
6.32 CAP with great upside.
NOI: $113,822.76
Current Unit Mix:
4 Free Market Apartments
2 Rent Stabilized Apartments
Operating statements and rent roll available upon request.
VALUE-ADD OPPORTUNITY
The Property consists of six oversized 2-bedroom apartments, including four free-market units and two rent-stabilized units.
The four free-market apartments are currently rented below market and present a significant opportunity for future ownership to increase income through unit modernization and repositioning. Assuming market rents of approximately $55/SF, the free-market units could potentially achieve rents of approximately $4,125 per month.
The two rent-stabilized apartments provide stable long-term occupancy and predictable annual rent growth.
Current Gross Income : $172,965 Annually
Illustrative Upside Scenario
Unit Type Units Annual Income
Free Market Units @ $4,125/month 4 $198,000
Rent Stabilized Units (3% Increase Assumed) 2 $27,856
Projected Gross Income : $225,856
Income Growth Potential
Current Gross Income: $172,965
Projected Gross Income: $225,856
Potential Annual Increase: $52,891
This analysis is presented solely to illustrate potential future rental upside. Prospective purchasers should conduct their own independent analysis regarding market rents, operating expenses, and investment returns.