New York, NY 11358

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio

Financials

Price:$2,699,999
Annual Taxes:$44,676
24-20 Jackson Ave Floor 3 Long Island City, NY 11101, USA
Listing Courtesy of Island Advantage Realty LLC

Opportunity is knocking with this legal 8 family Tudor in the highly sought after Auburndale neighborhood.

Description

Opportunity is knocking with this legal 8-family Tudor in the highly sought-after Auburndale neighborhood. This exceptional investment property features six spacious 1-bedroom apartments and two 2-bedroom, 2-bath duplex units, offering strong current income with additional upside potential. The building includes newer boilers and upgraded electrical systems, providing peace of mind for investors. Conveniently located near the Auburndale LIRR station, residents enjoy an easy commute to Manhattan and access to nearby amenities. With an estimated NOI of $135,615 and significant value-add opportunities, this property presents tremendous future potential. Investors may increase income by completing the basement space, where first-floor apartments could potentially be converted into legal duplex units, adding approximately 588 square feet to each apartment, subject to approvals and compliance with NYC zoning and building regulations. Additional basement space may also be utilized for common laundry facilities and tenant storage areas. The property also offers the possibility of conversion back into two 4-family buildings, subject to compliance with NYC zoning and building codes. A rare opportunity to acquire a high-income-producing property with immediate cash flow and long-term growth potential.

Amenities

  • Natural Gas 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.