85-25 56th AVE Elmhurst, NY 11373
6 Beds
3 Baths
2,500 Sqft Lot
Open House
Sun Sep 13, 12:00pm - 2:00pm
Thu Sep 17, 6:30pm - 8:00pm
Sat Sep 19, 11:00am - 12:30pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1048630
Style Colonial
Bedrooms 6
Full Baths 3
Rental Info No
Year Built 1915
Annual Tax Amount $6,973
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Duplex
Source onekey2
Property Description
Discover a premier investment or ultimate live-with-income residence in the heart of Elmhurst, Queens. Sited on a 25x100 lot, this detached multi-family property will be delivered 100% vacant at closing, allowing you to set premium market rents from day one. The building generates a proven gross annual rental income of $102,000, representing a solid 5.07% Capitalization Rate in a completely free-market, non-rent stabilized environment.
The property underwent a high-end architectural gut renovation in 2008, fully replacing all underlying infrastructure—including modernized electrical wiring, updated plumbing networks, and rich hardwood floors. Fully separate utility meters for the first and second floors drastically minimize landlord oversight and protect operating margins.
Intelligent Multi-Level Layout:
The home features a main secure entryway that opens into a private interior vestibule, providing dedicated, separate locked entrances to each of the three independent apartments:
First Floor:
Fully renovated 2-Bedroom (easily reverted to 3-BR) featuring a large living room, eat-in kitchen with brand new appliances, full bathroom, in-unit washer/dryer, and direct access to a paved, secure, gated backyard with an oversized awning.
Second Floor: Independent, sun-drenched 3-Bedroom, 1-Bathroom apartment with a spacious living area, modern eat-in kitchen with a dishwasher, and dedicated brand new laundry washer/dryer.
Finished Basement: Completely finished with an expansive open loft layout, featuring a legal full bathroom and a dedicated kitchen/bar area. Complete with a private entrance and electric stove, this versatile space is perfect for an owner's suite, guest quarters, home office, or auxiliary recreation. All basement utilities are included.
Location & Amenities:
Parking: Secure shared driveway protected by a permanent easement, comfortably accommodating offstreet parking for multiple vehicles.12
Transit: Unbeatable commuter location just two blocks from Queens Boulevard. A seamless 20-minute commute to Manhattan via the Grand Ave–Newtown M/R subway station and Q29 bus line.1
Lifestyle: Moments from Queens Center Mall, Target, Best Buy, Rego Park Shopping Center, and Elmhurst Hospital.1
Education: Adjacent to the prestigious P.S. 102 Bayview (holding an elite 9/10 ranking).
Gross Rental Income 102,000.
Vacancy Loss (5,100).
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Effective Gross Income 96,900.
Property Taxes (7,145).
Operating Expenses (9,238).
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Total Expenses (16,383).
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Net Operating Income 80,517.
Location
State NY
County Queens
Rooms
Basement Finished, Full, Storage Space, Walk-Out Access
Interior
Interior Features Granite Counters, High Ceilings
Heating Baseboard, ENERGY STAR Qualified Equipment, Natural Gas
Cooling Wall/Window Unit(s)
Flooring Hardwood
Fireplace No
Laundry Gas Dryer Hookup, In Kitchen, Washer Hookup
Exterior
Exterior Feature Awning(s)
Parking Features Shared Driveway
Fence Perimeter, Vinyl
Utilities Available Cable Available, Natural Gas Connected, Water Connected
Total Parking Spaces 2
Garage false
Private Pool No
Building
Lot Description Back Yard, Front Yard, Near Public Transit, Near School, Near Shops, Paved
Sewer Public Sewer
Water Public
Structure Type Stucco
Schools
Elementary Schools Ps 102 Bayview
Middle Schools Is 73 Frank Sansivieri Intermediate School (The)
High Schools Queens24
School District Queens24
Others
Senior Community No
Special Listing Condition None
