86-11 Kingston Pl
86-13 Kingston Pl
86-15 Kingston Pl
85-17 Kingston Pl Queens, NY 11432
JAMAICA ESTATES
EXECUTIVE SUMMARY
The Eklund Gomes Team at Douglas Elliman has been retained on an exclusive basis for the sale of four income-producing properties 86-11, 86-13, 86-15 and 86-17 Kingston Place along with eight parking spots as a package deal. The asset is located on the east side of Kingston Place and runs over one half of the block length between Henley Road and Highland Avenue in the Jamaica Estates neighborhood of Queens.
Each of the 80 ft wide x 100 ft deep four properties is comprised of 3 units and totals as 12,996 SF. The 12 existing tenants all contribute strong base rent which creates immediate cash flow. Built in 2019, the property is in impeccable condition. Each building is comprised of features unit 1 as a two-bedroom and two bathrooms and units 2 and 3 as a three-bedroom and two-bathroom homes.
86-11 to 86-17 Kingston Pl is exceptionally located in the scenic and serene Jamaica Estates neighborhood, which seamlessly combining a small-town atmosphere with easy accessibility to the city. The tree-lined streets give the neighborhood a picturesque look, making it a peaceful escape from the hustle and bustle of the city. Located in the northeastern section of Queens, Jamaica Estates’ proximity to major roads and highways, including the Grand Central Parkway and the Long Island Expressway, makes it a preferred choice of residence for commuters. The neighborhood is home to an array of small businesses, boutiques, and cafes that offer a unique and diverse shopping experience. It boasts of beautiful homes ranging from Tudor-style to colonial-style architecture, and residents take pride in maintaining the aesthetic charm of the neighborhood.
PRICE | $5,995,000
ASKING
2
PROPERTY HIGHLIGHTS
4 BUILDINGS; 12,996 SF
3-UNITS EACH WITH 8 PARKING SPOTS
STRONG IN PLACE TENANCY PROVIDING IMMEDIATE, STABLE CASH
FLOW
PRIME LOCATION
EASY ACCESS
PROPERTY INFORMATION
PROPERTIES INFORMATION
Address:
Neighborhood:
Borough:
Lot Size:
86-11,13,15 & 17 Kingston Pl, Queens, NY
Jamaica Estates
Queens
80 ft x 100 ft
BUILDINGS INFORMATION
Building Class:
Building Size:
Residential SF:
Four 3-family Townhouses 80 ft x 52 ft 12,992
ZONING INFORMATION
Zoning:
Unused FAR:
R6 0 12,992
Allowed usable floor area: 4
REVENUE Residential EXPENSES (EST.) NET OPERATING INCOME 12 Units Annual: $342,000 TOTAL: Real Estate Taxes Insurance Water/Sewer Gas & Electric (units) Electric (common) Annual Exp: $25,248 $13,348 $7,600 Tenant pays $4,800 TOTAL: Gross Annual Income: Expenses: $343,200 $50,996 NET OPERATING INCOME: $292,204 REVENUE & EXPENSES GROSS ANNUAL INCOME $343,200 LESS EXPENSES $50,996 CAP RATE $292,204 $343,200 5 $50,996 4.8% NET OPERATING INCOME 8 Parking spots $1,200
Bedroom: 2 Beds 3 Beds 3 Beds 86-11 Kingston Pl 1 2 3 Current Monthly Rent: $2,100 $2,450 $2,500 6 Sta FM FM FM Lease End: 07/31/2024 07/31/2024 07/31/2022 $119,291 $179,891
$7,050 Notes: Occupied Occupied Occupied
-15 Kingston Pl
-17 Kingston Pl Bedroom: 2 Beds 3 Beds 3 Beds 86-11 Kingston Pl 1 2 3 Current Monthly Rent: $2,100 $2,450 $2,500 Sta FM FM FM Lease End: 08/31/2023 03/31/2023 06/30/2024 $7,050 Notes: Occupied Occupied Occupied $119,291 Bedroom: 2 Beds 3 Beds 3 Beds 1 2 3 Current Monthly Rent: $2,250 $2,450 $2,400 Sta FM FM FM Lease End: 06/30/2022 06/30/2023 07/31/2023 $7,100 Notes: Occupied Occupied Occupied $119,291$179,891 Bedroom: 2 Beds 3 Beds 3 Beds 1 2 3 Current Monthly Rent: $2,200 $2,550 $2,550 Sta FM FM FM Lease End: 05/31/2024 06/30/2024 06/30/2024 $7,300 Notes: Occupied Occupied Occupied
ACTUAL REVENUE
86
86
PROPERTY PHOTOS
7
8
PROPERTY PHOTOS
FLOORPLAN
9
FLOORPLAN
10
FLOORPLAN
11
FLOORPLAN
12
RICH IN CULTURAL HISTORY
Known for its historic elegance and luxurious residences, Jamaica Estates has been a magnet for some of the most talented people in the country, making it a neighborhood with a rich cultural history and a legacy of excellence. Among its major landmarks is the Jamaica Estates-Holliswood-South Bayside Historical District, a designated landmark that includes beautiful homes from a variety of architectural styles. The grand entrance of the fancy Chapel of the Redeemer is another iconic landmark surrounded by pristine gardens. Other attractions include the historic, family-friendly Klein Farm, which hosts events and farming activities, and the scenic St. John’s University campus, a private, Catholic university that was founded in 1870 and is home to a variety of sports, arts, and academic programs. In addition, the neighboring Hillside Avenue offers access to an array of shopping and dining options to enjoy.
RIDERSHIP OVERVIEW
169 St: F train
TRANSPORTATION MAP
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CONTACT Giuseppe Airo Lic. R.E. Salesperson The Eklund | Gomes Team giuseppe.airo@elliman.com M: 347 906 2830 For more information, please contact exclusive agent: EXCLUSIVE OFFERING MEMORANDUM Allison Dubuisson Lic. Assoc. R.E. Broker The Eklund | Gomes Team adubuisson@elliman.com M: 917 685 4907