53 53rd Street

New York NY 11377

2700 sq. ft.

Single-Family

Currently for sale - view listing

Overview

Free-Market Six-Family Investment Opportunity | Prime Queens Location | As-Is with Violations Introducing a rare free-market six-family property located in the heart of Woodside, Queens - one of New York City's most stable and transit-connected rental markets. This solid brick pre-war building offers a strong existing income stream with significant upside potential for an experienced investor or operator. Property Overview Building Type: 6-Family Free-Market Monthly Income: ≈ $14,000 Annualized Gross Income: ≈ $168,000 Tenancy: All units occupied; tenants currently paying below market rents Legal Units: Six residential apartments Configuration: Three stories over basement Condition: Delivered as-is with existing open violations Status: Not rent-stabilized Investment Highlights Immediate Income - Fully occupied property generating $14,000 per month. Value-Add Upside - Rents are below market; opportunity to increase cash flow through strategic unit renovations or re-tenanting. ️ Free-Market Advantage - No rent stabilization restrictions; full flexibility in rental adjustments and repositioning. Brick Construction - Durable pre-war structure with classic architectural detail. ️ As-Is Sale with Violations - Ideal for cash buyers or those comfortable with NYC compliance work. Seller may allow escrow holdback until violations are cleared. Prime Location - Minutes from Roosevelt Avenue, the 7 Train (52 St-Lincoln Ave Station), and Woodside LIRR station; easy access to major highways and local retail corridors. ️ Neighborhood Demand - Woodside continues to attract young professionals and families seeking proximity to Midtown Manhattan with more affordable rents.

Features

6 bathrooms

2700 sq. ft. lot size

Single-Family

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