85-25 56th Avenue, Elmhurst, New York image 1
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85-25 56th Avenue

Elmhurst, NY 11373
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$1,599,000 $6,741/Mo
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Bed 6

Bed

Bath 3

Bath

Acres0.06

Acre(Lot)

Turnkey Live-and-Earn Masterpiece in Prime Elmhurst – Delivered Vacant, ~3,000 SQFT. Discover a premier investment or ultimate live-with-income residence in the heart of Elmhurst, Queens. Sited on a 25x100 lot, this detached multi-family property will be delivered 100% vacant at closing, allowing you to set premium market rents from day one. The building generates a proven gross annual rental income of $102,000, representing a solid 5.07% Capitalization Rate in a completely free-market, non-rent stabilized environment. The property underwent a high-end architectural gut renovation in 2008, fully replacing all underlying infrastructure—including modernized electrical wiring, updated plumbing networks, and rich hardwood floors. Fully separate utility meters for the first and second floors drastically minimize landlord oversight and protect operating margins. Intelligent Multi-Level Layout: The home features a main secure entryway that opens into a private interior vestibule, providing dedicated, separate locked entrances to each of the three independent apartments: First Floor: Fully renovated 2-Bedroom (easily reverted to 3-BR) featuring a large living room, eat-in kitchen with brand new appliances, full bathroom, in-unit washer/dryer, and direct access to a paved, secure, gated backyard with an oversized awning. Second Floor: Independent, sun-drenched 3-Bedroom, 1-Bathroom apartment with a spacious living area, modern eat-in kitchen with a dishwasher, and dedicated brand new laundry washer/dryer. Finished Basement: Completely finished with an expansive open loft layout, featuring a legal full bathroom and a dedicated kitchen/bar area. Complete with a private entrance and electric stove, this versatile space is perfect for an owner's suite, guest quarters, home office, or auxiliary recreation. All basement utilities are included. Location & Amenities: Parking: Secure shared driveway protected by a permanent easement, comfortably accommodating offstreet parking for multiple vehicles.12 Transit: Unbeatable commuter location just two blocks from Queens Boulevard. A seamless 20-minute commute to Manhattan via the Grand Ave–Newtown M/R subway station and Q29 bus line.1 Lifestyle: Moments from Queens Center Mall, Target, Best Buy, Rego Park Shopping Center, and Elmhurst Hospital.1 Education: Adjacent to the prestigious P.S. 102 Bayview (holding an elite 9/10 ranking). Gross Rental Income 102,000. Vacancy Loss (5,100). -------------------------------------------- Effective Gross Income 96,900. Property Taxes (7,145). Operating Expenses (9,238). -------------------------------------------- Total Expenses (16,383). ========================= Net Operating Income 80,517.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,599,000

AD Id : 91157570

MLS Id : 1048630

Beds : 6

Lot Size : 0.06 Acre

Tax Amount : 6973.28

Year Built : 1915

County : Queens

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Feature Features

  • Bedroom Information

    Total beds: 6

    Bathroom Information

    Total Baths: 3 Full Baths: 3

    Room Information

    Basement: Finished, Full, Storage Space, Walk-Out Access

  • Flooring Information

    Hardwood

  • Interior Features

    Granite Counters, High Ceilings Laundry Features: Gas Dryer Hookup, In Kitchen, Washer Hookup

  • Heating & Cooling

    Has Heating: Yes Heating: Baseboard, ENERGY STAR Qualified Equipment, Natural Gas Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1915 Building Area Total: 3006 Construction Materials: Stucco Private Pool: No

  • Exterior Features

    Exterior Features: Awning(s)

  • Lot Information

    Lot Size Acres: 0.0574 Lot Size Square Feet: 2500 Lot Description: Back Yard, Front Yard, Near Public Transit, Paved

  • Listing Price Information

    Listing Price: $1599000

  • Tax Information

    Parcel Number: 02879-0129 Annual Tax: $6973.28

  • Parking Information

    Parking Total: 2 Shared Driveway

  • School Information

    Elementary School: Ps 102 Bayview
    Junior High School: Is 73 Frank Sansivieri Intermediate School (The)
    Senior High School: Newtown High School

  • Utility Information

    Natural Gas Available, Cable Available, Natural Gas Connected, Water Connected

  • Location Information

    Direction: Queens Blvd to 56 Avenue make a right - Across Target & Queens Center Mall WaterSource: Public Security Features: Smoke Detector(s)
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Nearby Home Value

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9425 54th Avenue, Elmhurst, NY, 11373 $1,599,999 10 6 -- 0.08 Acre
9429 51st Avenue, Elmhurst, NY, 11373 $2,480,000 -- -- -- 0.07 Acre
94-68 45th Avenue, Elmhurst, NY, 11373 $1,480,000 11 7 -- --
94-66 45th Avenue, Elmhurst, NY, 11373 $1,480,000 8 7 -- --
9414 Corona Avenue, Elmhurst, NY, 11373 $1,249,000 3 2 -- --
94-36 45th Avenue, Elmhurst, NY, 11373 $1,588,800 7 5 -- 0.04 Acre
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95-11 42nd Avenue, Elmhurst, NY, 11373 $1,199,999 5 3 -- 0.04 Acre
9056 52nd Avenue, Elmhurst, NY, 11373 $1,388,000 -- -- -- 0.06 Acre

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 09/11/2026 @ 08:22

MLS: 1048630 LISTED BY: Derek Greene, Greene Realty Group 888-278-5840 SOURCE: OneKey MLS

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