Property Description

Prime mixed-use investment opportunity located on a busy stretch of 43rd Avenue in the heart of Elmhurst, surrounded by established retail, residential density, and strong foot traffic. This brick building features a ground-floor restaurant space with excellent street presence, plus two residential units above, offering multiple income streams and upside potential. The commercial unit can generate approximately $8,400/month, while the second-floor 2-bedroom and third-floor 3-bedroom units offer projected rents ranging from $2,300-$4,000 and $3,500-$5,000 respectively, depending on level of renovation. Solid structure, classic brick, and windowed residential floors provide strong fundamentals for both long-term hold or value-add strategies. Ideal for investors seeking stable income in one of Queens' most active rental markets, with close proximity to major transportation, restaurants, and neighborhood amenities.There is an open tax lien on the property of $89,000. Will be settled before/by closing.Seller is willing to hold paper up to approximately $400,000. Buyer is required to come up with 1 million minimum.

Property Features