45-16 39th Place
Sunnyside | Queens Boulevard & 47th Avenue
Ownership
Income Property
Lot Size
27'x100'
Floors/Apts
3/10
Status
Active
Real Estate Taxes
[Per Annum]
$ 34,663
Building Type
Low-Rise
Building Size
22'x87'
Year Built
1931
ASF/ASM
10,680/992
Property Description
45-16 & 45-18 39th Place
TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS 20 UNITS 60% FREE MARKET
12 Free Market Units (60%)
6 Vacant Units (4 FM, 2 RS)
17 Renovated Apartments
2 Newly Constructed Units
Family-Owned Since Early 1960s
One Block from the 7 Train
Prime Sunnyside Location
Significant Lease-Up Opportunity
New Boiler
Extensive Capital Improvements
Ideal for 1031 exchange and/or owner/operator.
The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train.
Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance.
The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential.
The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market.
The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units.
Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.
TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS 20 UNITS 60% FREE MARKET
12 Free Market Units (60%)
6 Vacant Units (4 FM, 2 RS)
17 Renovated Apartments
2 Newly Constructed Units
Family-Owned Since Early 1960s
One Block from the 7 Train
Prime Sunnyside Location
Significant Lease-Up Opportunity
New Boiler
Extensive Capital Improvements
Ideal for 1031 exchange and/or owner/operator.
The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train.
Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance.
The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential.
The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market.
The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units.
Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.
45-16 & 45-18 39th Place
TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS 20 UNITS 60% FREE MARKET
12 Free Market Units (60%)
6 Vacant Units (4 FM, 2 RS)
17 Renovated Apartments
2 Newly Constructed Units
Family-Owned Since Early 1960s
One Block from the 7 Train
Prime Sunnyside Location
Significant Lease-Up Opportunity
New Boiler
Extensive Capital Improvements
Ideal for 1031 exchange and/or owner/operator.
The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train.
Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance.
The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential.
The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market.
The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units.
Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.
TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS 20 UNITS 60% FREE MARKET
12 Free Market Units (60%)
6 Vacant Units (4 FM, 2 RS)
17 Renovated Apartments
2 Newly Constructed Units
Family-Owned Since Early 1960s
One Block from the 7 Train
Prime Sunnyside Location
Significant Lease-Up Opportunity
New Boiler
Extensive Capital Improvements
Ideal for 1031 exchange and/or owner/operator.
The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train.
Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance.
The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential.
The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market.
The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units.
Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.
Listing Courtesy of Corcoran Group
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Apartment Features
A/C
Building Details [45-16 39th Place]
Ownership
Income Property
Block/Lot
195/36
Building Size
22'x87'
Zoning
R5D
Building Type
Low-Rise
Year Built
1931
Floors/Apts
3/10
Lot Size
27'x100'
Mortgage Calculator in [US Dollars]
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Additional building data provided by On-Line Residential [OLR].
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