42-19 162nd Street, Flushing, NY 11358

Property Description

-This property in the sought-after Flushing neighborhood of Murray Hill offers a unique investment opportunity, combining both commercial and residential spaces. Here’s a detailed overview of its features and benefits: Property Details - **Structure**: Mixed-use building with three above-ground stories plus a finished basement. - **Commercial Space**: - **Location**: First floor features a commercial storefront. - **Residential Units**: - **Second Floor**: 4-bedroom, 1-bathroom apartment. - **Third Floor**: 3-bedroom, 1-bathroom apartment. - **Basement**: Serves as a storage area and houses the boiler room. - **Garage**: Parking available for two vehicles. Financial and Operational Highlights - **Utility Management**: All utility meters are separately metered, contributing to low operating costs. - **Return on Investment**: Strong potential for high returns, especially given the fully occupied status with reliable tenants. - **Occupancy Options**: The property can be delivered either occupied or vacant, providing flexibility for investors. Location Advantages - **Convenience**: Just one block from Northern Boulevard, offering easy access to daily amenities. - **Foot Traffic**: High visibility and foot traffic, beneficial for the commercial space. - **Proximity to Amenities**: - Restaurants, supermarkets, pharmacies, banks, and a post office are all nearby. - **Transportation Access**: - Multiple bus lines (Q12, Q13, Q26, Q27, Q28, Q65, N20G, N20X) and a 5-minute walk to the Long Island Rail Road (LIRR) station at 163rd Street and Northern Boulevard. Summary This mixed-use building is an excellent investment opportunity in a prime location, offering both commercial and residential rental income potential. The combination of reliable tenants, low operational costs, and convenient access to amenities and transportation enhances its appeal.