New York, NY 11378

Property

Ownership: For Sale
Type: Duplex
Bedrooms: 3 BR
Bathrooms: 2
Lot Size: 0.1 Acres

Financials

Price:$1,799,999
Annual Taxes:$6,236.32
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Loyaltty Inc

Income producing mixed use property in the heart of Maspeth featuring a vacant ground floor commercial space and residential units above, offering strong income potential and value add opportunity.

Description

Income-producing mixed-use property in the heart of Maspeth featuring a vacant ground-floor commercial space and residential units above, offering strong income potential and value-add opportunity. The commercial unit is equipped with an existing hood and gas line, making it suitable for a variety of uses (subject to tenant verification and approvals). The vacancy of the commercial space allows a new owner to set market rent and maximize returns. The upper level consists of two residential units currently occupied on a month-to-month basis, providing immediate income with flexibility for future adjustments. The property also includes additional income from garage spaces. Recent upgrades include a newly installed roof (under warranty) and a boiler less than one year old, reducing near-term capital expenditures. Projected income potential is estimated to exceed $10,000/month based on market conditions and achievable rents. Buyers are encouraged to perform their own due diligence regarding income, expenses, and permitted use. Located in a high-demand area of Maspeth with convenient access to major transportation routes, this property presents an excellent opportunity for investors seeking stable income with upside potential.

Amenities

  • Other

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.