4516 39th Place

Description

45-16 & 45-18 39th Place TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS | 20 UNITS | 60% FREE MARKET 12 Free Market Units (60%) 6 Vacant Units (4 FM, 2 RS) 17 Renovated Apartments 2 Newly Constructed Units Family-Owned Since Early 1960s One Block from the 7 Train Prime Sunnyside Location Significant Lease-Up Opportunity New Boiler Extensive capital improvements Ideal for 1031 exchange and/or owner/operator. The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train. Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance. The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential. The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market. The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units. Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.