Property Description

Discover an exceptional investment opportunity at 53-31 Woodside Avenue, Woodside, NY, where urban convenience meets serene living. This expansive three-family residence boasts 3,900 square feet of versatile living space, ideal for investors seeking a strong rental profile or homeowners desiring a live-in plus income arrangement. 

The property features three distinct units: a spacious two-bedroom, one-bathroom apartment on the first floor, a generous three-bedroom, one-bathroom apartment on the second floor, and a charming one-bedroom, one-bathroom apartment above the garage. Each unit is designed to maximize comfort and rental appeal, with current rents reflecting the property's value in this high-demand neighborhood.

Apt 1: Two bedroom, one bathroom. Rented at 3,000 per month
Apt 2: Three bedroom, one bathroom. Rented at 3,000 per month
Apt 2R: One bedroom, one bathroom. Rented at 2,200 per month
Garage: Two parking spaces. Rented at 400 per month

Owner pays for gas and water. Tenants pay their own electric. Unit 2R is fully electric.

Situated directly across from Lawrence Virgilio Park, this property provides a tranquil urban setting, perfect for tenants seeking a balance between city life and green spaces. Commuters will appreciate the proximity to the 52nd Street Station on the 7 Line and the 61st Street Station for the LIRR, ensuring seamless connectivity throughout New York City.

Recent capital improvements enhance the property's appeal and longevity, including a new water meter, two chimney linings, a new roof over the garage, and a PTAC unit in Unit 2R. Compliance with Local Law 31 has been completed, and the garage building has been fully waterproofed. Additional upgrades include a full replacement of the boiler's return line, new flooring in the entryway and first-floor common area, and new windows throughout the basement.

This property is a compelling choice for those looking to expand their rental portfolio or secure a versatile multi-family residence in Woodside's thriving real estate market. With owner-paid gas and water, and tenants responsible for their own electricity-Unit 2R being fully electric-this setup offers a streamlined management experience.

Don't miss the chance to invest in this prime location. For a comprehensive setup and offering memorandum or to schedule a private tour, please reach out via email.

Property Features