New York, NY 11373

Property

Ownership: For Sale
Type: mixed-use
Bedrooms: Studio
Pets: No Pets Allowed
Lot Size: 0.04 Acres

Financials

Price:$1,388,000
Annual Taxes:$34,465.76
24-20 Jackson Ave Floor 3 Long Island City, NY 11101, USA
Listing Courtesy of Douglas Elliman Real Estate

Prime mixed use investment opportunity located on a busy stretch of 43rd Avenue in the heart of Elmhurst, surrounded by established retail, residential density, and strong foot traffic.

Description

Prime mixed-use investment opportunity located on a busy stretch of 43rd Avenue in the heart of Elmhurst, surrounded by established retail, residential density, and strong foot traffic. This brick building features a ground-floor restaurant space with excellent street presence, plus two residential units above, offering multiple income streams and upside potential. The commercial unit can generate approximately $8,000/month, while the second-floor 2-bedroom and third-floor 3-bedroom units offer projected rents ranging from $2,300–$4,000 and $3,500–$5,000 respectively, depending on level of renovation. Solid structure, classic brick, and windowed residential floors provide strong fundamentals for both long-term hold or value-add strategies. Ideal for investors seeking stable income in one of Queens’ most active rental markets, with close proximity to major transportation, restaurants, and neighborhood amenities. There is an open tax lien on the property of $89,000. Will be settled before/by closing. Seller is willing to hold paper up to approximately $400,000. Buyer is required to come up with 1 million minimum.

Amenities

  • Awnings
  • Back Yard
  • Bathrooms
  • Cable - Available
  • Electricity Connected
  • Mailbox
  • Natural Gas Connected
  • Near Public Transit
  • Phone Available
  • Sewer Connected
  • Storage
  • Trash Collection Public
  • Walk Up
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.