Welcome to Long Island City's 5-39 51st Avenue! A USER-OWNER's dream property!This beautiful all-brick Multifamily Townhome was completely gut renovated in 2008. FIFTY FIRST AVENUE is one of LIC's most desirable blocks to live. There are three (3) apartments; the first floor duplex apartment has a unique sweeping layout, 1,429 ft2 of interior living space with three bedrooms and two bathrooms, separate living and dining rooms and 1,211 ft2 private lounge area.
The second and third floor apartments are approximately 722 ft2 each; identical two-bedrooms, one-bathroom, living room and kitchen layout.All apartments have split-unit HVACs, separate washer/ dryer and dishwasher appliances in- unit and are wired for Verizon Fios.
Investors: Three free-market apartments with effective $116,200 NOI and room for growth.
There is significant upside; develop the entire 4,000 ft2. See just a few options below:
Live in the spacious duplex residence while capturing market rate rental income from both two-bedroom apartments.
-District Special Zoning: M1-4/R6B Develop the 2,050 ft2 of UNUSED propertyair rights (buildable square footage) increasing building and apartment sizes nearly double the current floor plate. ...