10-47 47th Avenue, Long Island City, NY 11101

Property Description

First sale on 3 generations. Own a piece of Long Island City history on of the neighborhood’s most coveted and storied blocks, just off of Vernon Boulevard This 4,500 sf 6 family investment property has been well maintained by the same family for over 60 years and offers a stable tenant base, and up to date inspections and compliance with all local and state requirements. Built 25 x 60 and sitting on a 25x100’ lot, the property offers the ideal mix of quiet residential feel and prime location. The 3 story apartment building was constructed in 1931 and features a clean walkable basement and spacious planted backyard as well as a new roof and boiler The six apartments are all legal 1 bed 1 bath apartments, but configured as 2 bed railroad style residences. This is a rent stabilized investment and will be delivered fully occupied. The property is zoned M1-4/R6B and sits within the Long Island City Mixed use district. The FAR is 2.0 and there is 500 sf of unused air rights Rent roll and expenses upon request