New York, NY 11372

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Lot Size: 0.2 Acres

Financials

Price:$2,350,000
Annual Taxes:$50,244
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Keller Williams Landmark II

Built in 1923 as part of the original Cambridge Court development, this distinctive property is located within the Jackson Heights Historic District and benefits from landmark status.

Brick facade with decorative green trim, arched dormer windows, and a prominent entrance canopy

Brick facade with decorative green trim, arched dormer windows, and a prominent entrance canopy

Brick facade with decorative green trim, arched dormer windows, and a prominent entrance canopy
Brick facade with decorative green trim, arched dormer windows, and a prominent entrance canopy

Description

Built in 1923 as part of the original Cambridge Court development, this distinctive property is located within the Jackson Heights Historic District and benefits from landmark status. The fully leased, 17-unit building offers immediate cash flow and represents an excellent addition to any real estate portfolio. Long-term ownership has carefully managed and maintained the property in very good condition. Situated on a charming, tree-lined block of 86th Street between 37th Avenue and Roosevelt Avenue, the property is surrounded by numerous commercial businesses, neighborhood amenities, shopping, dining and convenient transportation. This is not your average building of its size. The four-story walk-up boasts an impressive 65 feet of frontage on a substantial 65' × 100' lot totaling approximately 6,500 square feet. With a down payment of 40% or more, the seller will consider financing at 5% interest-only for the first two years. A well-maintained historic property, strong Jackson Heights location and attractive financing opportunity make this building a valuable addition to any investor’s portfolio.

Amenities

  • Cable - Available
  • Electricity Connected
  • Natural Gas Connected
  • Phone Available
  • 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.