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Eric Hotaling
erichotaling@kw.com$ 3,750,000
Est. payment | /mo
2,500 Sqft Lot
$ 3,750,000
Est. payment | /mo
2,500 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1036263
Rental Info No
Year Built 2022
Annual Tax Amount $2,496
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
Excellent investment opportunity in the heart of Elmhurst! Legal 7-family residential building located at 88-34 54th Ave, built in 2020 and well maintained. This income-producing property features approximately 5,526 SF of building area on a 25 x 100 lot, with 4 stories plus basement and separate entrances, offering a practical and efficient multi-unit layout.
The property includes 7 residential units, 8 electric meters, and 7 gas meters. Each unit is equipped with modern finishes, including hardwood floors, marble countertops, individual wall-mounted heating systems, and gas stoves. Current projected full-rent gross income is approximately $20,850/month, or up to approximately $250,200/year, offering strong income potential.
Low annual property tax of approximately $2,496 with tax abatement benefits. Conveniently located in central Elmhurst near supermarkets, restaurants, shopping, schools, and public transportation, with easy access to the M/R subway lines and surrounding Queens neighborhoods.
A rare legal 7-family building with low taxes, strong rental potential, and prime Elmhurst location. Buyer to verify all income, expenses, taxes, leases, and property information independently.
The property includes 7 residential units, 8 electric meters, and 7 gas meters. Each unit is equipped with modern finishes, including hardwood floors, marble countertops, individual wall-mounted heating systems, and gas stoves. Current projected full-rent gross income is approximately $20,850/month, or up to approximately $250,200/year, offering strong income potential.
Low annual property tax of approximately $2,496 with tax abatement benefits. Conveniently located in central Elmhurst near supermarkets, restaurants, shopping, schools, and public transportation, with easy access to the M/R subway lines and surrounding Queens neighborhoods.
A rare legal 7-family building with low taxes, strong rental potential, and prime Elmhurst location. Buyer to verify all income, expenses, taxes, leases, and property information independently.
Location
State NY
County Queens
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Queens24
School District Queens24
Others
Special Listing Condition None
Listed by Chase Global Realty Corp • Xi Li