New York, NY 11368

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Lot Size: 0.1 Acres

Financials

Price:$3,800,000
Annual Taxes:$11,328.96
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Lin Pan Realty Group LLC

This well maintained mixed use investment property offers strong and stable cash flow in a highly convenient neighborhood near public transportation, retail, and dining.

Description

This well-maintained mixed-use investment property offers strong and stable cash flow in a highly convenient neighborhood near public transportation, retail, and dining. The property consists of one medical office on the ground floor and seven residential units, along with additional rooftop lease income, providing diversified income streams for investors. The building layout includes a medical office and one 1-bedroom unit with a large backyard on the first floor, followed by six additional one-bedroom apartments across the second, third, and fourth floors. Each residential floor contains two well-configured 1-bedroom units, making the building efficient to manage and highly rentable in this demand-driven Queens location. The property generates approximately $207,000 in annual gross operating income, with estimated operating expenses of about $26,000, resulting in an attractive Net Operating Income (NOI) of approximately $181,000 annually. Situated between Corona and Flushing, the property benefits from strong rental demand, proximity to major transportation routes, neighborhood retail corridors, and easy access to Manhattan. This is an excellent opportunity for investors seeking a stable income-producing property with upside potential in one of Queens’ most active rental markets.

Amenities

  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Trash Collection Public
  • 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.