New York, NY 11104

Property

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

Financials

Price:$4,799,000
Annual Taxes:$31,940
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Corcoran

20 Unit Multifamily Portfolio 60 Free Market Sunnyside Combined Offering of 45 16 and 45 18 39th Place 12 Free Market Units 2 Brand New Units 17 Renovated Units New ...

Description

20-Unit Multifamily Portfolio | 60% Free Market | Sunnyside Combined Offering of 45-16 and 45-18 39th Place -12 Free Market Units -2 Brand New Units -17 Renovated Units -New Boiler Ideal for 1031 exchange and/or owner/operator. The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire a generational multifamily asset in the heart of Sunnyside, one block from the entrance to the 7 train. Family owned since the early 1960s, the property has been meticulously maintained over decades of ownership with a level of care rarely seen in multifamily assets of this scale. Comprised of two semi-attached 10-family buildings totaling 20 residential units, the property reflects true pride of ownership throughout, combining clean operations, strong physical maintenance, and long-term stewardship. Of the property's 20 residential units, 12 are free market, representing 60% of the portfolio. The asset is currently configured with 6 vacant units, including 4 free-market apartments, providing immediate leasing opportunity within one of Queens' most transit-oriented and supply-constrained residential submarkets. The property features 17 updated apartments, along with 2 newly constructed units, demonstrating a consistent history of capital improvements and operational care throughout the buildings. The unit mix consists of two walk-in ground-level two-bedroom units, with three upper residential floors featuring three one-bedroom apartments per floor. Opportunities to acquire multifamily assets of this scale and condition trade infrequently within Sunnyside, particularly assets combining legacy ownership, strong ownership oversight, and embedded upside.

Amenities

  • Electricity Available
  • Gas Oven
  • Gas Range
  • Natural Gas Connected
  • Refrigerator
  • Stainless Steel Appliance(s)

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.