60-Unit Prewar Elevator Building
$9,250,000
47-51 40th Street, Sunnyside, NY 11104
For Sale
Multifamily
Unknown Sub Type
Active
Last Updated: 03/06/2026
6.74
Cap Rate
623,259
NOI
Details:
Cap Rate: 6.74%
NOI: $623,259
Building Size: 58,800 sqft
Lot Area: 14,000 sqft
Units: 60
GRM: 7.19
Price Per Sqft: $157
Price Per Unit: $154,167
Zoning: R6
Highlights:
- A prominent six-story, elevator-serviced apartment building spanning approximately 58,800 gross square feet
- Situated on the east side of 40th Street, just 0.2 miles from the 7-subway line for an easy Manhattan commute
- Clean and well-maintained building with strong collections
- Features a strong mix of both fair-market and rent-stabilized apartments
- The property is a short walk to the iconic Sunnyside Arch on Queens Boulevard and the historic Sunnyside Gardens historic district
- Cash-flowing asset generating approximately $1,300,000 in gross annual income
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Location
Gallery
