This corner property is a 6 story, 49 unit, elevator building. 48 units are rent stabilized. This offering provides a great opportunity to acquire a corner property with below market rents. The building consist of 30 one bedrooms, 12 two bedrooms, 6 studios, 1 non-regulated unit, laundry center and 15 indoor parking lots. There is significant upside to this property as the average rent is $1162/unit, where the current average rent in the area is approximately $1802/unit. The indoor parking lots are also under valued in the area. The location of the property is only a few minutes to Flushing, Main Street, a transportation hub, where you can find the 7 line, LIRR and several major bus lines. It is also a central business district as well as an attraction for shopping, dining and entertainment. Flushing is one of the largest and fastest growing ethnic Chinese enclaves outside of Asia, as well as within New York City itself. The gross annual income is $724,197. The total operating expense is $329,270. Great opportunity for 1031 Exchange or investment.