137-16 88th ST, Queens, NY 11417
137-16 88th ST, Queens, NY 11417
137-16 88th ST, Queens, NY 11417
137-16 88th ST, Queens, NY 11417
137-16 88th ST, Queens, NY 11417
137-16 88th ST, Queens, NY 11417
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Thomas D’Alcamo

Thomas D’Alcamo

+1(917) 544-9091
$ 999,000
Est. payment | /mo

5 Beds

5 Baths

3,705 SqFt

Save
$ 999,000
Est. payment | /mo
Save

5 Beds

5 Baths

3,705 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,705 sqft

Price per Sqft $269

MLS Listing ID 502298

Bedrooms 5

Full Baths 5

Year Built 1978

Annual Tax Amount $32,524

Lot Dimensions 22x120

Property Sub-Type Multi-Family

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% 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 Ozone Park

Rooms

Basement None

Interior

Hot Water Gas

Heating Gas

Flooring Hardwood, Laminate, Tile, Other

Heat Source Gas

Exterior

Exterior Feature Brick Face

Amenities Available Laundry – Card Operated, Storage rooms

Roof Type Shingle

Handicap Access No

Building

Story 3

Foundation Poured Concrete

Others

Energy Description Gas

Financing 1031 Exchange,Bank Mortgage,Cash

Listed by RE/MAX Edge
Thomas D’Alcamo

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(917) 544-9091

thomasdalcamo@gmail.com

7610 13th Ave, Brooklyn, New York, 11228, USA

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137-16 88th ST