137-16 88th Street, Queens, NY 11417

Queens
Local realty services provided by:ERA Top Service Realty
137-16 88th Street,Queens, NY 11417
$999,000
  • 5 Beds
  • 5 Baths
  • 3,705 sq. ft.
  • Multi-family
  • Active
Listed by: kathleen a. garbarino
Office: re/max edge
MLS#:502298
Source:BROOKLYN

Price summary

  • Price:$999,000
  • Price per sq. ft.:$269.64

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% 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...

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Home facts

  • Year built:1978
  • Listing ID #:502298
  • Added:59 day(s) ago
  • Updated:August 08, 2026 at 12:18 PM

Rooms and interior

  • Bedrooms:5
  • Total bathrooms:5
  • Full bathrooms:5
  • Rooms Total:15
  • Flooring:Hardwood, Laminate, Tile
  • Living area:3,705 sq. ft.

Heating and cooling

  • Heating:Baseboard, Gas

Structure and exterior

  • Roof:Shingle
  • Year built:1978
  • Building area:3,705 sq. ft.
  • Lot area:0.08 Acres
  • Construction Materials:Brick Face
  • Exterior Features:Back Yard
  • Foundation Description:Poured Concrete
  • Levels:3 Stories

Finances and disclosures

  • Price:$999,000
  • Price per sq. ft.:$269.64

Parking

  • Parking description:1 Space, Built-In Garage
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