Address
137-16 88th Street, Queens, NY
Price
$ 974,999
Property Attributes
- MLS#502298
- TypeMulti-Family
- Listing Status Active
- CountyQUEENS
- CityQueens
- AreaQueens
- NeighborhoodOzone Park
- Zip11417
- StyleMulti-Family
- Year Built1978
- Taxes$ 32524
- Price$ 974,999
- Bedrooms5
- Full Bathrooms5
- Half Bathrooms0
- Sqr Footage3705
- Lot Size0.075528 Acres
Data Source:
Brooklyn MLS (BNYMLS)
Property Description
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% 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 asset offer both current income and such clear potential for future growth.
| Price History | |
|---|---|
| 6/15/2026 | Listed $999,000 |
| 8/28/2026 | 3$974,999 |
General Features
| Net Operating Income | 51764.00 |
|---|---|
| Roof | Shingle |
| Electric | 200 Amp |
| Stories Count | 3 |
| Property Type | Residential |
| Block | 11397 |
| Cap Rate | 0.05 |
| Lot Number | 57 |
| Yearly Taxes | 32524.00 |
| Transaction Type | Sale |
| Insurance Expense | 3161.00 |
| Utility Expense | 1114.00 |
| Gross Expense | 46036.00 |
| Financing | 1031 Exchange,Bank Mortgage,Cash |
| Building Type | Attached |
| Gross Income | 97800 |
| Status | Active |
| Fuel Expense | 4664.00 |
| Total Rooms | 15 |
| Construction Materials | Brick |
| Cumulative Days on Market | 93 |
| MLS Area | Ozone Park |
| Sub Type | Multi-Family |
| Year Built | 1978 |
| City | Queens |
| Borough | Queens |
| Residential Features | A/C Unit - Window |
| DOM | 93 |
| Sale Type | Arm's Length |
| # Families | 4 |
| Public Remarks | 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% cap r |
Interior Features
| Heating Fuel | Gas |
|---|---|
| Flooring | Hardwood,Laminate,Tile,Other |
| Hot Water | Gas |
| Full Baths | 5 |
| Unit Count | 5 |
| Building Amenities | Laundry – Card Operated,Storage rooms |
| Sq Ft Total | 3705 |
| Basement Amenities | None |
| Beds Total | 5 |
| Total Baths | 5.00 |
Exterior Features
| Exterior | Brick Face |
|---|---|
| Lot Dimensions | 22x120 |
| Yard | Back |
| Foundation | Poured Concrete |
| Lot Sq Ft | 3290 |
| Building Length | 57.00 |
| Building Width | 22.00 |
| Property Panorama YN | Yes |
| Lot Size Length | 120 |
| Lot Size Width | 22 |
| Parking Attrib | 1 Space,Built-In Garage,Other |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 11417
Price
Taxes
Year Built
Visits
All Data is Copyright © 2026 BNYMLS Inc. All Rights Reserved. Information is deemed reliable, but not guaranteed and should be independently verified.
Staten Island Board of REALTORS® (SIBOR)
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
OneKey® MLS required Copyright, Source of Data and Disclaimer for IDX display
Information Copyright 2026, OneKey® MLS. All Rights Reserved.
The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers' personal, non-commercial use.
The data relating to real estate for sale on this website comes in part from the
