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12924 Merrick Blvd

8 Unit Apartment Building $5,377,762 CAD ($672,220 CAD/Unit) 9.02% Cap Rate Jamaica, NY 11434

Investment Highlights

  • 8 Units (2BD/1BA)
  • 4 Floors
  • Lot Size: 46X71 IRR
  • 9% Cap Rate
  • Building Size: 8,387 SF
  • Zone: R5D, R3X, C2-3

Executive Summary

Attention all investors, this is your chance to own a BRAND NEW BUILDING in Jamaica, Queens! 129-24 Merrick Blvd. features 4 floors, and 8 apartments with a 9% Cap Rate. The building will be delivered with full occupancy, with CITYFHEPS tenants and leases. Each unit features an open layout concept with two bedrooms, 1 bathroom, a kitchen with brand-new stainless steel appliances, and a living/dining room. Don't miss out on this exceptional opportunity to own a new building with substantial income potential.

Financial Summary (Actual - 2024)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $580,833 $69.25
Other Income $22,371 $2.67
Vacancy Loss - -
Effective Gross Income $603,204 $71.92
Taxes - -
Operating Expenses - -
Total Expenses $118,318 $14.11
Net Operating Income $484,886 $57.81

Financial Summary (Actual - 2024)

Gross Rental Income (CAD)
Annual $580,833
Annual Per SF $69.25
Other Income (CAD)
Annual $22,371
Annual Per SF $2.67
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $603,204
Annual Per SF $71.92
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $118,318
Annual Per SF $14.11
Net Operating Income (CAD)
Annual $484,886
Annual Per SF $57.81

Property Facts Under Contract

Price $5,377,762 CAD
Price Per Unit $672,220 CAD
Sale Type Investment
Cap Rate 9.02%
Sale Conditions
1031 Exchange
  • Bulk/Portfolio Sale
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.13 AC
Building Size 8,387 SF
Average Occupancy 100%
No. Stories 4
Year Built 2024
Parking Ratio 0.36/1,000 SF

Unit Amenities

  • Heating
  • Basement

Site Amenities

  • 24 Hour Access
Walk Score ®
Very Walkable (86)
Transit Score ®
Excellent Transit (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
12538-0001
Land Assessment
$162,476 CAD
Improvements Assessment
$492,584 CAD
Total Assessment
$655,060 CAD

zoning

Zoning Code R5D (R5 - Medium density district with a height limit of 40 feet)
R5D (R5 - Medium density district with a height limit of 40 feet)
  • Listing ID: 30614917

  • Date on Market: 2024-01-09

  • Last Updated:

  • Address: 12924 Merrick Blvd, Jamaica, NY 11434

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