148-04 35th AVE Active

Flushing,NY 11354

$ 2800000

- Bed

- Bath

- SqFt


Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 877434

Year Built 1974

Annual Tax Amount $38,000

Property Sub-Type Multi Family

Property Description

This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located in the heart of Downtown Flushing—one of Queens' fastest-growing neighborhoods.

The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning.

Currently, all 6 free market residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long-term development upside, this asset offers both immediate cash flow and significant future growth potential.

As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.

Location

State NY

County Queens

Interior

Heating Electric

Cooling Multi Units

Flooring Brick

Exterior

Utilities Available Cable Connected,Electricity Connected,Sewer Connected,Trash Collection Public,Water Connected

Building

Story 3

Sewer Public Sewer

Water Public

Structure Type Brick

Others

Special Listing Condition None

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