2708 39th Avenue

03-18-2021
12-14-2021

2708 39th Avenue, LONG ISLAND CITY, NY 11101

  • Rare 80% Free Market 40 Unit Multifamily Building
  • Only Two Subway Stops into Manhattan | Four Blocks to N & W Subway Lines
  • There are Thirty-Two Free Market Apartments | There are Eight Rent Stabilized Apartments
  • Spacious Prewar Apartments with Updated Finishes
  • Attractive Unit Mix of 1 Bedrooms and Studios, Low Average Rent
  • M1-2/R5D, LIC Zoning, Zero Additional Available Air Rights
  • Building is in Excellent Condition
  • Highly Efficient Gas Boiler
  • Two Blocks to Queensboro Plaza Transit Hub
  • Laundry and Storage Rooms Provide Additional Income

Property Description

Marcus & Millichap is pleased to offer 2708 39th Avenue, located between 27th Street and 28th Street in the Long Island City section of Queens, New York.The subject property, 2708 39th Avenue, is a five-story multifamily building that consists of 5 small one bedrooms, 32 one bedrooms and 3 two-bedroom apartments. The property is built 75 feet by 80 feet and sits on a 75 foot by 100.83 foot lot with approximately 25,125 gross square feet. The property is zoned M1-2/R5D. (Block: 397, Lot: 14)This property offers investors the rare opportunity to purchase an 80% Free Market 40 Unit multifamily building made up of primarily 1 bedrooms in the Long Island City section of Queens, NY.

Key Property Information

Listing Status
Available
Price
$ 10,600,000
No. of Units
40
Cap Rate
0%
Average Occupancy
0%
Year Built
1929
Building Size
25,125 Sq ft
Lot Size
7,562 Sq ft
No. of Stories
5
Opportunity Zone
Off
Price per unit
$ 265,000
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40.754056, -73.935875

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