Rent Stabilized Mixed-Use Building with Condo Book in Queens, NY

This is a prime mixed-use property located on Northern Blvd in East Elmhurst, Queens. It features a rent-stabilized building with 28 residential units and 3 commercial spaces, totaling 21,016 sqft of residential space and 11,662 sqft of commercial space. The property also includes 14 parking spaces and benefits from a 25-year 421-tax abatement. The condo book has been declared, and a laundry room is available in the basement. With a yearly gross income of $1.25M and a Net Operating Income of $1,072,500, this property presents a strong investment opportunity in a desirable New York City location.