REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,350,000
Est. payment /mo
Price Dropped by $45K
35-57 86th ST Jackson Heights, NY 11372
2,543 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1048951
Rental Info No
Year Built 1992
Annual Tax Amount $59,030
Lot Size 2,543 Sqft
Acres 0.0584
Property Sub-Type Multi Family
Source onekey2
Property Description
Exceptional value-add investment opportunity in the heart of Jackson Heights. This well-maintained five-family building, constructed in 1992, offers approximately 6,240 SF across four stories on a 25.42 x 100 lot, featuring renovated apartments, an updated lobby, and a newer roof and boiler (approximately five years old). The unit mix spans one-, two-, and three-bedroom layouts, and tenants pay their own gas, heat, and hot water, keeping owner expenses low.
Current gross income of $142,020 supports a 4.7% cap rate at the asking price, with strong pro-forma upside to approximately 7.8% by bringing rents to market and capturing additional income from the lower level and on-site parking. Four parking spaces, including a two-car garage, are a rare and valuable amenity in this location.
Located in a C2 commercial overlay zone, the ground floor offers flexibility for professional, medical, or office use, enhancing the property's long-term appeal. The building shows no open violations, and a survey is available.
Set on a tree-lined street minutes from the 7 train, the 82nd Street and Roosevelt Avenue shopping corridor, restaurants, and parks, the location earns top walkability and transit ratings. Offered by a long-term absentee owner, this is a turnkey opportunity to acquire a well-located, income-producing asset with clear paths to increased revenue. Buyer to perform own due diligence regarding rents, unit configurations, and permitted uses.
Current gross income of $142,020 supports a 4.7% cap rate at the asking price, with strong pro-forma upside to approximately 7.8% by bringing rents to market and capturing additional income from the lower level and on-site parking. Four parking spaces, including a two-car garage, are a rare and valuable amenity in this location.
Located in a C2 commercial overlay zone, the ground floor offers flexibility for professional, medical, or office use, enhancing the property's long-term appeal. The building shows no open violations, and a survey is available.
Set on a tree-lined street minutes from the 7 train, the 82nd Street and Roosevelt Avenue shopping corridor, restaurants, and parks, the location earns top walkability and transit ratings. Offered by a long-term absentee owner, this is a turnkey opportunity to acquire a well-located, income-producing asset with clear paths to increased revenue. Buyer to perform own due diligence regarding rents, unit configurations, and permitted uses.
Location
State NY
County Queens
Rooms
Basement Storage Space
Interior
Heating Natural Gas
Cooling Multi Units
Fireplace No
Exterior
Parking Features Driveway, Garage, Garage Door Opener, On Street, Private
Utilities Available Electricity Connected, Natural Gas Connected, Phone Available, Trash Collection Public, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Queens 30
School District Queens 30
Others
Special Listing Condition None
Listed by Hedgestone Commercial Rlty LLC • Afridi Bhuiyan
Nearby Locations