Description
Free-Market Legal 4 Family Exceptional opportunity to own a well maintained legal 4 family property in the heart of Maspeth. This solid brick building offers immediate income with significant upside, making it ideal for investors or owner-occupants who want rental cash flow while living on-site. 3 - Two Bedroom One Bath and 1 - One Bedroom One Bath unit plus a full basement and a private backyard. All paying tenants - month-to-month with no leases in place, providing flexibility for the next owner. The property can also be delivered vacant, creating a rare chance to reset rents to market or configure for full owner occupancy. Each unit pays its own electric and gas. Tenants have individual washers and dryers in the basement connected to their respective meters. With rents adjusted to current market rates, the property projects an approximate 5 - 6% cap rate, offering strong long-term performance in a highly desirable Queens neighborhood. Situated on a 25 x 100 lot with an expansive building size of 20 x 72. Major mechanical updates provide peace of mind, including a new gas furnace installed in November 2022, a roof replaced in 2013, and a hot water heater updated in 2025. The building’s large basement includes a recreation space, storage, laundry and utility space. Situated on a quiet residential block with convenient access to transportation, shopping, and local amenities, this is a rare value add asset combining immediate stability with future upside. A true Maspeth investment gem.
Details
| MLS # | 958843 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1915 |
| Days On Site | 199 |
| Listing Provided By | EXP Realty | Lily G. Tran CBR |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 Total |
| Basement | Y |
| Units | 4 |
| Acreage | 0.06 |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Other |
| Interior Features | Eat-in Kitchen, Other, Walk-In Closet(s) |
Exterior
| Exterior Features | Other |
|---|---|
| Construction Materials | Brick |
| Foundation Details | Brick/Mortar |
| Lot Features | Near Public Transit, Near School, Near Shops |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | On Street |
Utilities
| Utilities | See Remarks |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 13767 |
| Tax Lot | 0037 |
Area Information
| State | NY |
|---|---|
| County | Queens |
| City | Maspeth |
| Zip Code | 11378 |
| School District | Grover Cleveland High School |
| Elementary School | Ps 153 Maspeth Elementary |
| High School | Grover Cleveland High School |
| Listing VS Median (in 11378) | |
Price: $1,550,000 low | high Med: $922,500 On site: 199 low | high Med: 210 | |
Market Activity 11378
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Learn More About This Property
| State | NY |
|---|---|
| County | Queens |
| City | Maspeth |
| Zip Code | 11378 |
| School District | Grover Cleveland High School |
| Elementary School | Ps 153 Maspeth Elementary |
| High School | Grover Cleveland High School |
| Listing VS Median (in 11378) | |
Price: $1,550,000 low | high Med: $922,500 On site: 199 low | high Med: 210 | |
 | $1,320,00060-14 60th AvenueMaspeth, NY 11378 |