Address
137-16 88th Street, Queens, NY
Price
$ 974,999
Property Attributes
- MLS#2603336
- TypeSingle Family
- Listing Status Active
- CountyQueens
- CityQueens
- AreaOff Island
- NeighborhoodN/A
- Zip11417
- Style
- Year Built1978
- Taxes$ 32524
- Price$ 974,999
- Bedrooms5
- Full Bathrooms5
- Half Bathrooms0
- Sqr Footage3705
- Lot Size0.08 Acres
Data Source:
Staten Island MLS (SIBOR)
Property Description
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 percnt 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 offer both current income and such clear potential for future growth.
| Price History | |
|---|---|
| 6/15/2026 | Listed $999,000 |
| 8/28/2026 | 2$974,999 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Natural Gas,Hot Water,Steam |
| Cooling | Units |
| Zoning | R4 |
| Garage Spaces | 1 |
| Architectural Style | Other |
| Construction Materials | Brick |
| Year Built | 1978 |
| Electric | 220 Volts |
| Stories Count | 3 |
| Property Subtype | Quadruplex |
| County | Queens |
| New Construction | false |
| Property Type | Residential Income |
| HOA | false |
| Attached Garage | true |
| Full Baths | 5 |
| Status | Active |
| City | Queens |
| MLS Area | Off Island |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 3284 |
| Year Built Details | Approx |
| Tax Annual Amount | 32524 |
| MLS Area Minor | Off Island |
| Standard Status | Active |
| Tax Lot | 57 |
| Gross Income | 97800 |
| Operating Expense | 46036 |
| Building Features | Cable,Laundry,Storage |
| Number Of Units Total | 5 |
| Virtual Tour | https://app.doaudiotours.com/unbranded?id=24408&lang=en-US |
Interior Features
| Air Conditioning Y/N | true |
|---|---|
| Heating Y/N | true |
| Total Bedrooms | 5 |
| Total Baths | 5 |
| Interior Amenities | Ceiling Fan(s) |
Exterior Features
| Exterior Amenities | Balcony |
|---|---|
| Parking Features | Driveway,On Street |
| Lot Features | Back Yard |
| Lot Size Area | 3284 |
| Building Area Total | 3705 |
| Lot Dimensions | 22.3x120 |
| Lot Size Acres | 0.08 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 11417
Price
Taxes
Year Built
In The Neighborhood
Just Listed
Brooklyn
$ 1,150,000
- Type
- Single Family
- Size
- 1,280 SqFt
- Rooms
- 3 Beds + 2 Baths
Listed by: Tiger Realty
Just Listed
Brooklyn
$ 1,890,000
- Type
- Single Family
- Size
- 3,120 SqFt
- Rooms
- 7 Beds + 5 Baths
Listed by: Tiger Realty
Just Listed
Brooklyn
$ 1,350,000
- Type
- Single Family
- Size
- 1,968 SqFt
- Rooms
- 4 Beds + 2 Baths
Listed by: EXP Realty
Just Listed
Sherburne
$ 299,000
- Type
- Single Family
- Size
- 1,523 SqFt
- Rooms
- 3 Beds + 2 Baths
Listed by: DiTommaso Real Estate
Just Listed
Brooklyn
$ 1,499,888
- Type
- Single Family
- Size
- 2,112 SqFt
- Rooms
- 6 Beds + 6 Baths
Listed by: Re/Max Edge
Brooklyn
$ 549,999
- Type
- Single Family
- Size
- 900 SqFt
- Rooms
- 2 Beds + 1 Baths
Listed by: DiTommaso Real Estate
Open House
Brooklyn
$ 779,000
- Type
- Single Family
- Size
- 1,808 SqFt
- Rooms
- 6 Beds + 1 Baths
Listed by: RE/MAX Elite
Staten Island
$ 898,000
- Type
- Single Family
- Size
- 1,472 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: E-House Realty of Avenue U Inc
Brooklyn
$ 699,000
- Type
- Single Family
- Size
- 8,505 SqFt
- Rooms
- 3 Beds + 1.5 Baths
Listed by: Ashford Homes LLC
Brooklyn
$ 1,300,000
- Type
- Single Family
- Size
- 1,980 SqFt
- Rooms
- 5 Beds + 2.5 Baths
Listed by: City House Realty Inc.
Glendale
$ 749,999
- Type
- Single Family
- Size
- 1,312 SqFt
- Rooms
- 3 Beds + 1.5 Baths
Listed by: Robert DeFalco Realty, Inc.
Brooklyn
$ 1,649,000
- Type
- Single Family
- Size
- 2,295 SqFt
- Rooms
- 4 Beds + 3 Baths
Listed by: Chris Homes & Lands, Inc.
Open House
Brick
$ 925,000
- Type
- Single Family
- Size
- 2,850 SqFt
- Rooms
- 4 Beds + 3.5 Baths
Listed by: Robert DeFalco Realty, Inc.
Staten Island Board of REALTORS® (SIBOR)
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
