137-16 88th

For Sale

137-16 88th, Queens, NY 11417

This Queens property for sale is located at 137-16 88th. The current listed sale price for 137-16 88th is $974,999. 137-16 88th is situated on a lot that is 0.08 acre in size.

Contacts

Kathleen A. Garbarino

RE/MAX Edge

Property Details

  • Property Type Multi-Family
  • Property Size 1,254 SF
  • Lot Size 0.08 Acre
  • Cap Rate % 0.05
  • Rental Income / YR $97,800.00
  • NOI / YR $51,764.00
  • Taxes / YR $32,524.00
  • Year Built 1978
  • Date Updated Nov 2, 2026
Exceptional investment opportunity in the heart of Ozone Park. This brick 5-unit income-producing property consists of five 1-bedroom apartments and is currently operating at approximately a 5% cap rate with significant upside potential. Two units are currently vacant, providing a rare opportunity for a new owner to immediately lease at market rents and substantially increase the property s income and overall return. Additional features include a private driveway, garage, common laundry area with supplemental income potential, separate utility services, and approximately 3,705 square feet of building area. Located just minutes from Cross Bay Boulevard, transportation, shopping, restaurants, and major roadways. Whether you re looking for a stable long-term hold, value-add investment, or 1031 exchange opportunity, this property offers immediate cash flow with the ability to significantly improve performance through lease-up and rental optimization. Rarely does a Queens multifamily asset offer both current income and such clear potential for future growth.
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Highlights

  • Laundry Card Operated
  • Storage rooms

Getting around

  • 66/100

    Walk Score ®

  • 79/100

    Transit Score ®

  • 51/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Queens, NY
  • Neighborhood Ozone Park
  • Zip Code 11417
  • Market Queens

Points of Interest

  • 80th Street

    0.74 miles

  • Ozone Park–Lefferts Boulevard

    1.51 miles

  • 85th Street–Forest Parkway

    1.52 miles

  • Norwood Avenue

    1.74 miles

  • Cypress Hills

    1.76 miles

  • 111 Street

    1.81 miles

  • 111th Street

    1.84 miles

  • Cleveland Street

    2.03 miles

  • Pennsylvania Avenue

    2.50 miles

  • Federal Circle

    2.51 miles

  • Sunoco

    0.29 miles

  • Speedway

    0.32 miles

  • Exxon

    0.68 miles

  • Mobil

    0.82 miles

  • Allegiance

    1.22 miles

  • Lukoil

    1.30 miles

  • 76

    1.64 miles

  • Pride Gas

    1.65 miles

  • Tesla Supercharger

    2.66 miles

  • ChargePoint

    3.72 miles

  • JFK Long Term Parking Area C

    1.23 miles

  • JFK Long Term Parking Area B

    1.40 miles

  • JFK Long Term Parking Area A

    1.45 miles

  • JFK Airport Employee Parking

    1.56 miles

  • JFK Long Term Parking (Private)

    1.71 miles

  • JFK Cell Phone Waiting Lot

    2.35 miles

  • School bus parking

    2.59 miles

  • Budhu Parking Lot

    2.85 miles

  • Havens Place Lot

    2.93 miles

  • City Parking

    2.96 miles

  • Travelodge

    0.22 miles

  • CrossBay Motor Inn

    0.31 miles

  • Econo Lodge

    1.26 miles

  • Hotel Bliss

    1.62 miles

  • Surfside Motel

    1.66 miles

  • Riviera Motor Inn

    1.95 miles

  • Latisha Luxury Place

    2.01 miles

  • Gate Hotel

    2.23 miles

  • Hilton Garden Inn

    2.25 miles

  • Sleep Inn & Suites

    2.48 miles

  • C-Town

    0.39 miles

  • Key Food Supermarket

    0.42 miles

  • Linden Center

    0.44 miles

  • Grocery Outlet

    0.52 miles

  • Circle S Milk Farm

    0.54 miles

  • Stop & Shop

    0.72 miles

  • Key Food

    1.00 miles

  • Food Farm Supermarket

    1.19 miles

  • Food Universe

    1.51 miles

  • Scaturro Supermarket

    1.52 miles

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