property-description
This property checks all the boxes. Are you a parent looking to house your son or daughter at Queens—want to have it paid for? Then this property is for you. Or are you a savvy investor that just wants great returns and a solid investment—we have you covered! Don't be deceived by its modest exterior—423 Palace Road is a fully furnished, turn-key, high performing investment. This property is larger than it looks due to a large addition at the rear. Discover 423 Palace Road—an exceptional, well-maintained legal 3-unit property in the heart of the City. With two 2-bedroom units, one 1-bedroom unit, and close proximity to Queen's University, hospitals, and public transit, it appeals to mature tenants and professionals. Standout features include a 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation for reduced operational costs. Offering an attractive income stream and with a sought after short-term rental rating, it's ideal for long-term tenants and Airbnb ventures. Don't miss this opportunity with a 7.07% CAP Rate and a projected 6.71% ROI. and with 0% vacancy and Fully leased until 2025 (id:38686)
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detailsSection.headers.propertyDetails
Property Tax
: $5,807Last Updated
: Tue, April 30, 2024Mls Num
: 40572564Listing Date
: Apr 17, 2024
detailsSection.headers.homeFeatures
Property Type
: detailsSection.listingTypeId.105Sq Ft Raw
: detailsSection.sqftSub Division
: 18 - Central City West
detailsSection.headers.interiorFeatures
Heating
: Forced air, Natural gasBasement
: Finished, Full
detailsSection.headers.utilities
Sewer
: Municipal sewage system
detailsSection.headers.other
Exterior Features
: Vinyl siding
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