Brick Five-Unit Apartment Building

137-16 88th Street, Queens, NY 11417

View on Map

New

For Sale

$999,000

MULTI_FAMILY - Queens, NY

Property size:

3,705 SF

Lot size:

0.08 Acres

Price / SF:

$269/SF

HighLights

Brick 5‑unit multifamily built in 1978, with five 1‑bedroom apartments
Approximately 3,705 SF of building area with a shingle roof
Operating at approximately a 5% cap rate, with two units currently vacant for immediate lease‑up
Private driveway plus garage parking
Common laundry area and separate utility services for each unit
Interior features include window A/C units; flooring includes tile, hardwood, and laminate

We can help!

Listing Contact

Kathleen A. Garbarino

For Sale

$999,000

MULTI_FAMILY - Queens, NY

Property size:

3,705 SF

Lot size:

0.08 Acres

Price / SF:

$269/SF

Added:: Jun 15, 2026
Days on Market:: 1
Last Refresh:: Jun 15 at 10:06 am

Property Features for 137-16 88th Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 5
Bathrooms: 5
Rooms: Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 5
Parking features: Garage
Interior features: A/C Unit - Window
Standard status: Active
Size: 3,705 SF
Lot size: 0.08 Acres

Taxes and HOA fees

Tax Annual Amount: 32524

Building Details

Year built: 1978
Floors in Building: 3
Number of units: 5
Flooring type: Tile, Hardwood, Laminate
Building materials: Brick
Roof type: Shingle

We can help!

Listing Contact

Kathleen A. Garbarino

Listing agent Kathleen A. Garbarino

Listing office RE/MAX Edge 1812 Bath Ave, Brooklyn, NY

Listing date Jun 15, 2026

MLS# 502298 Listing URL

Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Brick 5‑unit multifamily built in 1978, with five 1‑bedroom apartments
Approximately 3,705 SF of building area with a shingle roof
Operating at approximately a 5% cap rate, with two units currently vacant for immediate lease‑up
Private driveway plus garage parking
Common laundry area and separate utility services for each unit
Interior features include window A/C units; flooring includes tile, hardwood, and laminate

Overview

This brick five-unit income property includes five 1-bedroom apartments. The building is designed to support separate utility services, and it features a private driveway and a garage. A common laundry area is also in place. According to the current offering remarks, two units are presently vacant, creating an immediate leasing opportunity for a new owner. The property is listed at approximately 3,705 square feet of building area and sits on a small lot totaling approximately 0.0755 acres.

Located at 137-16 88th Street in Queens (11417), the property is described as being in the heart of Ozone Park and just minutes from Cross Bay Boulevard. The surrounding area offers access to transportation, shopping, restaurants, and major roadways.

For buyers seeking an income-producing multifamily asset with room to improve through occupancy, this configuration offers straightforward leasing upside based on the two vacant units. The seller’s remarks also reference current performance at approximately a 5% cap rate. With separate utilities, on-site parking support via the garage and driveway, and a shared laundry setup, the building is positioned for practical management by an owner-operator, an investor planning a lease-up strategy, or a buyer evaluating a structured acquisition such as a 1031 exchange.

Property Profile Location Intelligence

Current Use by Public Records

Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Queens
County: Queens
State: New York
Longitude: -73.8483
Latitude: 40.672375

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For sale
Apartment buildings
NY
Queens
11417
137-16 88th Street

What type of property is this?

Apartment building - Five 1-bedroom apartments with two currently vacant, plus private driveway, garage, common laundry, and separate utilities.

Where is this apartment building located?

The property is located at 137-16 88th Street Queens, NY.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: Brick 5‑unit multifamily built in 1978, with five 1‑bedroom apartments; Approximately 3,705 SF of building area with a shingle roof; Operating at approximately a 5% cap rate, with two units currently vacant for immediate lease‑up

137-16 88th Street, Queens, NY 11417

MULTI_FAMILY - Queens, NY

Property Features for 137-16 88th Street

General Information

Taxes and HOA fees

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Spacious Two-Family Home in Queens

Spacious Multifamily Home with Pool

Detached Two-Family Brick Residence

Queens Village Multifamily Investment Property

Desirable Jackson Heights Multi-Family Home

Upgraded Six-Family Residence, Queens

Queens Two-Family Home Value-Add Opportunity

Mixed-Use Income Property with Parking

Renovated Triplex in Queens, NY

NYU Medical Investment Opportunity

Newly Renovated Two-Family Duplex

Sunnyside Corner Commercial Property For Sale

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