{"id":388,"date":"2025-12-15T19:23:54","date_gmt":"2025-12-15T19:23:54","guid":{"rendered":"https:\/\/lakompra.com\/united-states\/?post_type=advert&#038;p=388"},"modified":"2025-12-15T19:23:55","modified_gmt":"2025-12-15T19:23:55","slug":"apts-to-condo-conversion-jackson-heights-ny","status":"publish","type":"advert","link":"https:\/\/lakompra.com\/united-states\/advert\/apts-to-condo-conversion-jackson-heights-ny\/","title":{"rendered":"Apts to Condo Conversion- Jackson Heights NY"},"content":{"rendered":"<p>62 Units for Sale; Condo Conversion deal. Type: Multifamily<br \/>\nCLASS C7<br \/>\nZoning: R7-1\/R5<br \/>\nYear built: 1923<br \/>\nSqft: 54,624<br \/>\nLOT: 0.60 Acres<br \/>\nBuildings: 2 (8 Towers)<br \/>\nResidential: 43 FM &amp; 12 RS + 1RS (admin)<br \/>\nCommercial: 6<\/p>\n<p>Asking: $24M<br \/>\nAssumable Loan: 17.1M<br \/>\nExp: 2031<br \/>\nInterest Rate: 3.7%<br \/>\nCash needed: $6.9M FINAL<\/p>\n<p>OR<\/p>\n<p>Cash Deal at $22.1M FINAL<br \/>\nPRJ Condo Conversion Up-side: $15M<br \/>\nPRJ Cash on Cash Return after CC: 67%<br \/>\nCash on Cash return: 15.8%<br \/>\nGross Income: 2.1M<br \/>\nNet Income: $1.4M<br \/>\nClosing Terms: 30-45 days or less<\/p>\n<p>EXIT STRATEGY: The property is undergoing a condo conversion with approval for test marketing, generating cash flow during the process. The condo sell-off is valued at $44 million, with an expected ROI of over 100% in 2-3 years. Rental income continues until the condos are sold, and low HOA fees are anticipated to boost prices. High demand for conversions in the area adds to its appeal.<\/p>\n<p>For showing please send non binding LOI (Just to show seriousness to seller). Motivated to sell.<\/p>\n","protected":false},"author":12,"template":"","advert_category":[4],"class_list":["post-388","classified","type-advert","status-publish","has-post-thumbnail","hentry","advert_category-real-estate","advert_location-new-york"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apts to Condo Conversion- Jackson Heights NY - La Kompra USA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lakompra.com\/united-states\/advert\/apts-to-condo-conversion-jackson-heights-ny\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apts to Condo Conversion- Jackson Heights NY - La Kompra USA\" \/>\n<meta property=\"og:description\" content=\"62 Units for Sale; Condo Conversion deal. Type: Multifamily CLASS C7 Zoning: R7-1\/R5 Year built: 1923 Sqft: 54,624 LOT: 0.60 Acres Buildings: 2 (8 Towers) Residential: 43 FM &amp; 12 RS + 1RS (admin) Commercial: 6 Asking: $24M Assumable Loan: 17.1M Exp: 2031 Interest Rate: 3.7% Cash needed: $6.9M FINAL OR Cash Deal at $22.1M ... 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