35-57 86th Street,Jackson Heights, NY 11372
Jackson Heights, NY 11372
Description
Exceptional value-add investment opportunity in the heart of Jackson Heights. This well-maintained five-family building, constructed in 1992, offers approximately 6,240 SF across four stories on a 25.42 x 100 lot, featuring renovated apartments, an updated lobby, and a newer roof and boiler (approximately five years old). The unit mix spans one-, two-, and three-bedroom layouts, and tenants pay their own gas, heat, and hot water, keeping owner expenses low. Current gross income of $142,020 supports a 4.7% cap rate at the asking price, with strong pro-forma upside to approximately 7.8% by bringing rents to market and capturing additional income from the lower level and on-site parking. Four parking spaces, including a two-car garage, are a rare and valuable amenity in this location. Located in a C2 commercial overlay zone, the ground floor offers flexibility for professional, medical, or office use, enhancing the property's long-term appeal. The building shows no open violations, and a survey is available. Set on a tree-lined street minutes from the 7 train, the 82nd Street and Roosevelt Avenue shopping corridor, restaurants, and parks, the location earns top walkability and transit ratings. Offered by a long-term absentee owner, this is a turnkey opportunity to acquire a well-located, income-producing asset with clear paths to increased revenue. Buyer to perform own due diligence regarding rents, unit configurations, and permitted uses.
Details
| MLS # | 1048951 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1992 |
| Days On Site | 55 |
| Listing Provided By | Hedgestone Commercial Rlty LLC | Afridi Bhuiyan |
Features
| SQ Feet | 6,240 |
|---|---|
| Basement | Y |
| Units | 5 |
| Zoning | R5 |
| Acreage | 0.06 |
Interior
| Cooling | Multi Units |
|---|---|
| Heating | Natural Gas |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | Driveway, Garage, Garage Door Opener, On Street, Private |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Phone Available, Trash Collection Public, Water Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2026 |
|---|---|
| Tax Assessed Value | 535500 |
| Tax Annual Amount | 59030 |
| Tax Lot | 46 |
Area Information
| State | NY |
|---|---|
| County | Queens |
| City | Jackson Heights |
| Zip Code | 11372 |
| Listing VS Median (in 11372) | |
Price: $1,350,000 low | high Med: $372,500 sqft: 6,240 low | high Med: 835 $ / sqft: $216 low | high Med: $449 On site: 55 low | high Med: 386.5 | |
Market Activity 11372
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Learn More About This Property
| State | NY |
|---|---|
| County | Queens |
| City | Jackson Heights |
| Zip Code | 11372 |
| Listing VS Median (in 11372) | |
Price: $1,350,000 low | high Med: $372,500 sqft: 6,240 low | high Med: 835 $ / sqft: $216 low | high Med: $449 On site: 55 low | high Med: 386.5 | |
