73-22 69 Pl Queens, NY 11385

Property Details for 73-22 69 Pl

Year built

1931

Property size

3,150 SF

Property type

Commercial real estate

Description

This exceptional 4-unit multifamily property in Queens, NY, presents a compelling value-add investment opportunity. Located at 73-22 69th Pl, this 1931-built, two-story brick building underwent a complete renovation in 2020, boasting high-end finishes throughout. The 3,150 square foot building sits on a 2,500 square foot lot (25 x 100 ft) and is zoned R5B. Each of the four units features updated kitchens with stainless steel appliances, new hardwood oak floors, new recessed lighting, and new high-end split A/C systems. Two units are duplexes extending into the basement with 9-foot ceilings. The building also includes four full bathrooms and six half bathrooms, plus a shared backyard and a basement with coin-operated laundry machines. Recent upgrades include a new heating system, plumbing, electrical, hot water heaters, roof, skylights, and A/C/heat units. The building's exterior has also been recently repointed. The property's prime location offers easy access to shopping, dining, and entertainment on Myrtle Avenue, Atlas Park Mall, Jackie Robinson Parkway, Long Island Expressway, and Queens Center Mall. With a total asking price of $1,670,000 ($417,500 per unit and $530.16 per square foot), this property offers strong potential for both owner-occupancy and rental income. Annual property taxes are $8,300. The building dimensions are 25 x 63 ft. The FAR is 1.35 with a maximum FAR of 2.