Updated Cap Rate Calculation
Annual Gross Income: $125,741
Annual Operating Expenses: $46,487
Net Operating Income (NOI): $79,254
Asking Price: $1,299,000
Cap Rate = NOI ÷ Purchase Price × 100
$79,254 ÷ $1,299,000 = 6.10% Cap Rate

Property Remarks
Exceptional investment opportunity in the highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price.
The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens’ most established neighborhoods.