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$ 999,000

Est. payment -/mo

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137-16 88th ST Queens, NY 11417

5 Beds

5 Baths

3,705 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,705 sqft

Price per Sqft $269

MLS Listing ID 2603336

Style Other

Bedrooms 5

Full Baths 5

Construction Status Fair

HOA Y/N No

Year Built 1978

Annual Tax Amount $32,524

Lot Size 3,284 Sqft

Acres 0.08

Lot Dimensions 22.3x120

Property Sub-Type Quadruplex

Source Staten Island Multiple Listing Service

Property Description

Exceptional investment opportunity in the heart of Ozone Park. This brick 5-unit income-producing property consists of five 1-bedroom apartments and is currently operating at approximately a 5 percnt cap rate with significant upside potential. Two units are currently vacant, providing a rare opportunity for a new owner to immediately lease at market rents and substantially increase the property's income and overall return. Additional features include a private driveway, garage, common laundry area with supplemental income potential, separate utility services, and approximately 3,705 square feet of building area. Located just minutes from Cross Bay Boulevard, transportation, shopping, restaurants, and major roadways. Whether you're looking for a stable long-term hold, value-add investment, or 1031 exchange opportunity, this property offers immediate cash flow with the ability to significantly improve performance through lease-up and rental optimization. Rarely does a Queens multifamily asset offer both current income and such clear potential for future growth.

Location

State NY

County Queens

Area Off Island

Zoning R4

Rooms

Basement None

Interior

Interior Features Ceiling Fan(s)

Heating Natural Gas, Hot Water, Steam

Cooling Units

Exterior

Exterior Feature Balcony

Parking Features Driveway, On Street

Garage Spaces 1.0

Total Parking Spaces 1

Building

Lot Description Back Yard

Building Description Brick, Cable,Laundry,Storage

Sewer Public Sewer

Architectural Style Other

Structure Type Brick

New Construction No

Construction Status Fair

Listed ByRe/Max Edge

GET MORE INFORMATION

Christina Girgenti

Broker Associate

+1(718) 938-5033

cgirgenti@benbayre.com

8304 13th Ave, Brooklyn, NY, 11228, USA