HouseQueens (United States)

Price :

$2,750,000

USD

Euro € EURAmerican Dollar ($ USD)British Pound (£ GBP)

bedrooms4 bathrooms3

Introducing 47-08 11th Street, a remarkable 3-unit multi-family building with a captivating garden, making it an irresistible opportunity for investors and developers alike. Situated in prime Long Island City, just a single subway stop away from Manhattan, this property boasts an all-residential zoning (M1-4/R7a/LIC), offering the potential for a lucrative rental income property or a remarkable condo conversion. With approximately 4,000 interior square feet and 920 exterior square feet, this building rests on a spacious lot measuring 20 100... ft, while the building itself spans 20 50... ft. Prepare to be amazed, as all three occupied apartments have recently undergone stunning renovations, breathing new life into each unit. Additionally, the roof has been expertly rubberized, and the basement has been thoughtfully built out, adding further value to this exceptional property. Currently generating annual non-stabilized rent roll income, it is important to note that the existing rents are well below market rate, leaving room for significant upside potential. With the ability to command at least $3,000 or more per unit annually, this property promises an enticing return on investment. Conveniently located just one minute from the train station and positioned steps away from Long Island City's finest dining and the iconic east river, this is undeniably the best investment or development opportunity currently available. Don't miss out on this incredible chance to own a property that combines excellent rental potential with a prime location. This trophy property can also be converted into a luxurious one or two family townhome. Contact us now to secure your private showing and embark on an exciting journey into the world of real estate investment and development.