Property
| Ownership: | Rental Property |
|---|---|
| Rooms: | 42 |
| Bedrooms: | Studio |
Financials
Price:$4,799,000
Listing Courtesy of Corcoran Group
Combined Offering of 45 16 and 45 18 39th Place in Sunnyside.
Description
Combined Offering of 45-16 and 45-18 39th Place in Sunnyside.
-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.
-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.
Neighborhood
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RLS Data display by Nest Seekers LLC.
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.
