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$ 1,860,000
Est. payment | /mo
11 Beds
6 Baths
2,892 Sqft Lot
$ 1,860,000
Est. payment | /mo
11 Beds
6 Baths
2,892 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 877461
Bedrooms 11
Full Baths 6
Rental Info No
Year Built 1974
Annual Tax Amount $26,089
Lot Size 2,892 Sqft
Acres 0.0664
Property Sub-Type Quadruplex
Source onekey2
Property Description
This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located
in the heart of Downtown Flushing—one of Queens' fastest-growing neighborhoods.
The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning.
Currently, all residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long- term development upside, this asset offers both immediate cash flow and significant future growth potential.
As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.
in the heart of Downtown Flushing—one of Queens' fastest-growing neighborhoods.
The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning.
Currently, all residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long- term development upside, this asset offers both immediate cash flow and significant future growth potential.
As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.
Location
State NY
County Queens
Rooms
Basement Full
Interior
Interior Features First Floor Bedroom, First Floor Full Bath
Heating Natural Gas
Cooling Multi Units
Flooring Wood
Fireplace No
Exterior
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected
Total Parking Spaces 1
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Senior Community No
Special Listing Condition None
Listed by Compass Greater NY LLC