$5,000,000

Est. Mortgage $25,283/mo *

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Listing courtesy of Corcoran Group Phone: (212) 355-3550

39-29 47TH Avenue, Queens, (Sunnyside), NY, 11104

39-29 47TH Avenue, Queens, (Sunnyside), NY, 11104
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18 rooms

12 beds

8 Full baths

1931

The Forray Team at The Corcoran Group presents 39-29 47th Avenue, a fully remodeled Ultra Rare 10 Unit mixed-use property in Sunnyside, Queens. This investment comprises six residential units (5 free market & 1 rent stabilized) and four commercial spaces, offering a balanced income stream in a highdemand rental market.

Redeveloped in 2018, the property blends classic architecture with modern amenities. Residential units feature high end finishes, including stainless steel appliances, in-unit washers and dryers, and hardwood flooring, appealing to quality-conscious tenants.

Located near the 7 train at 40th Street-Lowery Street, tenants enjoy swift access to Midtown Manhattan. The neighborhood offers a variety of amenities, with a caf , deli, office & Lessage Laser Spa, a premier skincare clinic, situated within the building.

Financially, the property demonstrates robust performance with favorable tax class 2B status, a current NOI of $272,953, reflecting a 5.46% cap rate based on a $5,000,000 purchase price. Projections indicate potential growth, with NOI projected up to $304,000 with improvements and further future growth with rising rents for both residential and commercial units. Sunnyside has experienced a 7.8% increase in rental demand from 2023 to 2024, underscoring the area's growth potential.

With modern upgrades, prime location, and strong financial metrics, 39-29 47th Avenue represents an exceptional investment opportunity in one of Queens' most desirable neighborhoods.

Status:

Active

Town:

Queens

Type:

Condo/Coop

Laundry Remarks:

Building Other

Units:

6

Basement:

Other

Levels:

3

Lot Size:

100.00x24.00

Est. Taxes:

$53,712

View Description:

Other

Days on Market:

53

Pet Policy:

Building Yes, No

MLS #:

RLS20005159

Community Info

School Info

Walk Score

Mass Transit

Yelp

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