85-25 56 Th Ave, Elmhurst, NY

Name: 85-25 56 Th Ave, For Sale in Elmhurst - Zoocasa
Brand: Greene Realty Group
SKU: 1048630
Price: 1599000 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$1,599,000

632

MLS® 1048630

Open House

Thu Sep 17, 10:30 PM - 12:00 AM UTCSat Sep 19, 3:00-4:30 PM UTCWed Sep 23, 10:30 PM - 12:00 AM UTC

Overview

Key Facts

Type Duplex

Levels Residential Income

Size 3006 sqft

Garage No

Taxes $6,973

Days Active 4

Lot Size 0.05739999935030937 Acres

Approx. Age 1915

Avg. Price Per Sqft $531

MLS® Number 1048630

Property Address: 85-25 56th Ave, Elmhurst, NY, 11373-4827

Average square foot calculated using Size range provided by listing agent.

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 off-street parking for multiple vehicles. - 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. - Lifestyle: Moments from Queens Center Mall, Target, Best Buy, Rego Park Shopping Center, and Elmhurst Hospital. - Education: Adjacent to the prestigious P.S. 102 Bayview (holding an elite 9/10 ranking). Gross Rental Income 102, 000 Vacancy Loss (5, 100) -------------------------------------------- Effective Gross Income 96, 900 Property Taxes (7, 145) Operating Expenses (9, 238) -------------------------------------------- Total Expenses (16, 383) ========================= Net Operating Income 80, 517

MLS® Number1048630

Laundry LevelGas Dryer Hookup, In Kitchen, Washer Hookup

Central VacNo

FireplaceNo

Acreage0.0574

Exterior

GarageNo

Approx. Age1915

BasementFinished, Full, Storage Space, Walk-Out Access

DrivewayShared Driveway

Garage Spaces

HeatBaseboard, ENERGY STAR Qualified Equipment, Natural Gas

A/CWall/Window Unit(s)

Extras

Map

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