Updated 3 years ago
Off Market
5-46 51st Ave
Long Island City, Queens | 5th Street & Vernon Blvd
24 Rooms6 Beds6 Baths5,915 Square FeetIncome Property
$3,400,000
floors / apts4 / 6
Lot Size25'100"x100'
Built Size25'100"x65'
ZoneM1-4
Building TypeTownhouse
RE Taxes$28,592
Price Per SF
$575
Listing Features
- Beamed Ceilings
- High Ceilings
- Moldings
- Original Details
- Oversized Windows
- WBFP
- Oil Heat
- Window AC Units
Outdoor space and views
- Backyard
- Garden [27'x25']
- City Views
- Garden Views
- Partial City
- Skyline Views
Building Amenities
- Voice Intercom
Property Description for 5-46 51st Ave
Just listed! *Trophy* red brick / double barrel front multi-family located at the absolutely unique and exciting Vernon / Jackson intersection in the heart of Hunters Point, Long Island City. This truly one of a kind, pre-war, 3-story walk-up sits on a 25ft x 100ft lot, boasting a unique and exciting expression of classical detail in a truly one-of-a-kind offering.
Features include beautiful moldings with high ceilings and gorgeous wood finishes, and contemporary upgrades, including separate meters. With approximately 4,875 sq ft of living space plus 816 sq ft of outdoor space, this property offers endless possibilities ranging from investment / development to primary home.
Located just steps away from the 7 train at Vernon / Jackson and the East River Ferry, a variety of mass transit commuter options ensures a well performing investment well situation for access to NYC's next iteration as the cornerstone of the global economy, not to mention a stone's throw from LIC's prime waterfront and skyline views just outside your door.
With an annual rental income of $168,00 and total annual expenses of $28,592, the net rental income is $139,408, resulting in a CAP rate of 4.1%. Don't miss out on the opportunity to own this remarkable and one of a kind property that will stand as the cornerstone of any investment portfolio.
Listing History for 5-46 51st Ave
Now
07/11/2023
POM by Franco Rinaldi
Compass
04/25/2023
$3,400,000
Initial Price by Franco Rinaldi
Compass
Building Details for 5-46 51st Ave
OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts4/6
Transit and Citi Bike
Subway
Vernon Blvd-Jackson Av
0.09 miles
21 St
0.32 miles
Hunters Point Av
0.32 miles
Railroad
Long Island CityLong Island Rail Road
0.14 miles
Hunterspoint AvenueLong Island Rail Road
0.44 miles
Citi Bike
Vernon Blvd & 50 Ave
0.06 miles
5 St & 51 Ave
0.09 miles
Ferry
Hunters Point South
0.33 miles
Long Island City
0.47 miles
Long Island City | Queens
Quick Profile
Long Island City, the name does sound a little far away, like it requires a lengthy drive to get to. Think, again. Long Island City, also known as LIC, is nestled in the western corner of Queens along the East River. Midtown Manhattan is closer to Long Island City than it is to downtown Manhattan.
LIC is bordered by Sunnyside to the east, the East River to the west, Astoria to the north, and Newton Creek which separates Queens from Greenpoint Brooklyn to the south.
A once-shabby manufacturing epicenter, the neighborhood is a mix of industrial, commercial and residential. In recent years it’s seen a rise in some seriously cool factors. Populated by young professionals, multi-ethnic immigrants, and hipsters, LIC has a happening nightlife scene, fantastic restaurants (some of them Michelin starred), art museums and galleries. Much of the waterfront access has been redeveloped into sustainable public green spaces with modern design.
Although much of the industrial / manufacturing companies have since left LIC, many still reside there. They tend to co-exist with new residential building development the same way they do in other neighborhoods like Williamsburg and Greenpoint.
Office building developers and business tenants play a vital role in LIC too. It’s considered New York City’s fourth central business district next to Midtown, downtown Manhattan and downtown Brooklyn.
As you traverse the streets of LIC, you’ll notice the change from block to block. Industrial warehouses on one block, a bustling Main Street, followed by a park block with sleek luxury high-rise buildings. It’s all part of the LIC vibe.
For a small neighborhood, the transportation links are excellent. For starters, you just can’t beat living one subway stop from Manhattan (7 train). Other train lines include E, M, R, N, Q, and the G lines. There are also less conventional methods of transportation like the NYC Ferry, which offers three ferry landings. There is no shortage of CitiBike’s in LIC either. Many folks commute to work by way of cycling over the Queensboro Bridge.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 55417TH
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