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137-16 88th Street, Queens, NY 11417

Queens
Local realty services provided by:CENTURY 21 STANDARD REAL ESTATE
137-16 88th Street,Queens, NY 11417
$974,999
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  • 5 Beds
  • 5 Baths
  • 3,705 sq. ft.
  • Multi-family
  • Active
Listed by: kathleen a garbarino, thomas p smith
Office: re/max edge
MLS#:2603336
Source:NY_SIBOR

Price summary

  • Price:$974,999
  • Price per sq. ft.:$263.16

About this home

Exceptional investment opportunity in the heart of Ozone Park. This brick 5-unit income-producing property consists of five 1-bedroom apartments and is currently operating at approximately a 5 percnt cap rate with significant upside potential. Two units are currently vacant, providing a rare opportunity for a new owner to immediately lease at market rents and substantially increase the property's income and overall return. Additional features include a private driveway, garage, common laundry area with supplemental income potential, separate utility services, and approximately 3,705 square feet of building area. Located just minutes from Cross Bay Boulevard, transportation, shopping, restaurants, and major roadways. Whether you're looking for a stable long-term hold, value-add investment, or 1031 exchange opportunity, this property offers immediate cash flow with the ability to significantly improve performance through lease-up and rental optimization. Rarely does a Queens multifamily...

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Home facts

  • Year built:1978
  • Listing ID #:2603336
  • Added:117 day(s) ago
  • Updated:October 10, 2026 at 02:54 PM

Rooms and interior

  • Bedrooms:5
  • Total bathrooms:5
  • Full bathrooms:5
  • Living area:3,705 sq. ft.

Heating and cooling

  • Cooling:Units
  • Heating:Hot Water, Natural Gas, Steam

Structure and exterior

  • Year built:1978
  • Building area:3,705 sq. ft.
  • Lot area:0.08 Acres
  • Construction Materials:Brick
  • Exterior Features:Balcony

Finances and disclosures

  • Price:$974,999
  • Price per sq. ft.:$263.16
  • Tax amount:$32,524

Parking

  • Garage:Yes
  • Garage spaces:1
This information has been obtained from sources believed to be reliable, but no representations or warranties, expressed or implied, as to the accuracy of the information are being made by Ithaca Board of REALTORS® or CENTURY 21 STANDARD REAL ESTATE. Anyone using this information without independently verifying its accuracy bears all risk for any inaccuracies. NY_SIBOR Member Broker: Herman Herrera

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