BEDS8
BATHS5 full
MLS#1002922
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLQueens 25
Property Description
Unique redevelopment opportunity in an R6 zoning district with substantial Community Facility development potential. The property currently features two residential units, each offering approximately 1,200 square feet of living space with three bedrooms, two baths, and a private terrace. Both units will be delivered vacant at closing, providing immediate flexibility for occupancy, renovation, income generation, or future redevelopment.The existing first-floor recreation level presents an attractive opportunity for conversion to community facility use, while the upper residential floors may be retained, reconfigured, or incorporated into a broader redevelopment plan. Purchasers may wish to explore the potential for a significant horizontal enlargement, creating a unique mixed-use configuration that combines community facility space with residential occupancy.Particularly well suited for adult day care providers, child care and early education programs, senior service organizations, social service agencies, counseling and wellness centers, educational programs, religious institutions, and other qualifying community facility users. Exceptional Flushing location offering long-term value and redevelopment potential.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Finished, Full, Walk-Out Access
Cooling: Wall/Window Unit(s)
Heating: Baseboard, Hot Water, Natural Gas
Home Style: Colonial
Lot Size: 0.09 Acres
Taxes: $13,952
Year Built: 1960
Amenities
First Floor Full Bath
Balcony
Feature Descriptions
Building Area Total: 3339
Days on Site: 34
Exterior: Brick
Fencing: Back Yard, Chain Link
Heating Units: 1
Heating Zones: 4
House Faces: South
Lot Dimensions: 29X135
On Market Date: 2026-05-27
Parcel Number: 05135-0042
Parking Features: Driveway
Parking Total: 3
Property Attached Y/N: 1
Rental Term: Monthly
Separate Gas Meters: 2
Sewer: Public Sewer
Units: 2
Utilities: Electricity Connected, Natural Gas Connected
Water: Public
Local Schools
High School: Flushing High School
Middle School: Is 237
Elementary School: Ps 184 Flushing Manor
School District: Queens 25
Listed By / Shown By
Listing By
Agency Name: Tapestry Real Estate of Queens
Agency Contact: 718-460-1943
Shown By
Agency Title: Joyce Realty
Agency Phone: (800-275-5692)
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Estimated Payment
$ 10,728.15 per month $8,457.15 Principal & Interest $1,162.67 Property Tax $1,108.33 Homeowner's InsuranceChange Payment Information
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139-03 Franklin Avenue | MLS# 1002922
This multi-family property located at 139-03 Franklin Avenue, Flushing, NY 11355 is currently listed for sale with an asking price of $3,800,000. 139-03 Franklin Avenue is located within the Queens 25 school district. Search Flushing real estate on www.joycerealty.com today.