60-85 54th Street

Turnkey legal three-family (#3Family) on the Maspeth / East Williamsburg / Ridgewood border offering immediate cash flow and long-term upside. This legal three-family features three residential units plus a finished basement and a large, usable rear yard—an ideal value-add or long-term buy-and-hold play in a high-demand rental corridor. The layout includes two 1-bedroom apartments on the first floor and a 2-bedroom apartment on the top floor, currently occupied. With thoughtful upgrades and repositioning of the vacant units, an investor has clear runway to bring the units to full market rent and significantly improve the building’s income profile. Transportation is easy and renter-friendly. A nearby bus line runs directly to the Grand Street L train, connecting to Union Square and the rest of Manhattan, making the property attractive to tenants who work in Manhattan or North Brooklyn creative/industrial hubs. Drivers benefit from plentiful street parking, and quick access to major routes linking Queens, Brooklyn, and Manhattan. Mechanicals are in solid shape: the building offers a newer furnace and hot water heater, helping to keep operating costs predictable and reduce immediate cap-ex for the next owner. Along Metropolitan Avenue and the surrounding blocks, tenants enjoy a growing mix of supermarkets, cafes, bars, restaurants, and local services, plus convenient access to the retail and employment centers of Ridgewood, East Williamsburg, and Bushwick—all without the premium pricing of those core neighborhoods. Don’t miss this well-maintained, nearly turnkey three-family with outdoor space, strong in-place income, and clear upside in one of Queens’ most strategically located, transit-connected, and steadily appreciating border neighborhoods.