41-37 Parsons Blvd, Flushing, NY

Name: 41-37 Parsons Blvd, For Sale in Flushing - Zoocasa
Brand: Fultonex Realty LLC
SKU: 990964
Price: 4500000 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$4,500,000

000

MLS® 990964

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage No

Maintenance Fees

Taxes $74,903

Days Active 0

Approx. Age 1977

MLS® Number 990964

Property Address: 41-37 Parsons Blvd, Flushing, NY, 11355-1945

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

Description

Ideally positioned in the heart of Flushing, the fully leased multi-family building presents a compelling hybrid investment opportunity that combines stable in-place income with significant upside potential. The property consists of a 16-unit residential building, featuring 14 two-bedroom/one-bath units and 2 one-bedroom/one-bath units, along with four on-site parking spaces, a potential tenant laundry facility, and an on-site superintendent for efficient day-to-day management. All units are fully occupied on a month-to-month basis, with current rents significantly below market, offering immediate value-add potential through strategic repositioning and operational improvements. With no rent control restrictions, the asset provides full flexibility to achieve market rents, supporting a projected conservative cap rate of 6.2% or higher. The property’s location is a key driver of long-term value. Situated just minutes from Downtown Flushing—one of New York City’s most dynamic and rapidly growing commercial hubs—the asset benefits from exceptional access to retail, dining, and employment centers. It is also conveniently located near major transportation options, including the 7 subway line at Main Street, the Long Island Rail Road Flushing–Main Street station, and multiple bus routes, providing seamless connectivity to Manhattan and the greater New York City area. Further enhancing its appeal, the property benefits from R7-1 zoning (3.44 FAR / 4.80 CF FAR), introducing a strong development component. With an estimated buildable potential of approximately 21, 000 to 30, 000 square feet, investors have a clear path toward increased density or full-scale redevelopment. This is a rare opportunity to acquire a scalable asset in a prime, supply-constrained Flushing location, offering both immediate cash flow growth and long-term development upside.

MLS® Number990964

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1977

Stories4

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 27, 2026List Date

$4,500,000List Price

Commute

Commute

Starting Address

Destination Address

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