10-47 47th Ave, Queens, NY 11101

Property Description

First time on the market in three generations. Own a piece of Long Island City history on one of the neighborhood's most coveted and storied blocks, just off Vernon Boulevard. This 4,500 sq ft, 6-unit investment property has been well maintained for over 60 years and offers up-to-date inspections and compliance with all local and state requirements. Built 25' 60' on a 25' 100' lot, the property offers the ideal blend of a quiet residential setting and a prime location. Constructed in 1931, the three-story apartment building features a clean, walkable basement, a spacious landscaped backyard, and recent upgrades including a new roof and boiler. The six apartments are all legal one-bedroom, one-bath residences, currently configured as railroad-style two-bedroom layouts. The property is rent stabilized and will be delivered fully occupied. Zoned M1-4/R6B within the Long Island City Mixed Use District, the property has an FAR of 2.0 and approximately 500 square feet of unused air rights. Rent roll and expense information available upon request.