Updated 10 hours ago

31-50 137th Street

Flushing, Queens | 31st Road & 32nd Ave

7 Rooms5 Beds2 Baths2,500 Square FeetMulti-Family

$1,800,000
floors / apts2 / 2
Lot Size24'x100'
Built Size20'x44'
ZoneR6
Building TypeHouse
RE Taxes$6,225
Price Per SF
$720

Outdoor space and views

  • Porch

Property Description for 31-50 137th Street

This is an exceptional opportunity to acquire a development site or income-producing multifamily property in one of Queens’ most desirable and rapidly evolving neighborhoods. Situated on an approximately 2,500-square-foot lot and zoned R6, the property offers significant potential for investors, builders, developers, or end users looking to capitalize on the continued growth of North Flushing. The property is currently configured as a legal two-family residence with a detached two-car garage, providing immediate rental income with the flexibility to offset carrying costs while future development plans and approvals are pursued. The newly renovated first-floor unit features two bedrooms, a home office, and an open-concept kitchen and living area. The flexible layout may also accommodate a third bedroom while retaining a home office. The second-floor unit offers three bedrooms, a home office, and an open kitchen and living area. The basement features a separate entrance to the street level, is partially finished, and includes a full bathroom. The unfinished portion offers additional potential to expand the existing configuration and potentially create an additional dwelling unit, subject to applicable zoning, building codes, permits, and approvals. Ideally positioned among established multifamily residences and surrounded by thriving neighborhood amenities, the property is just moments from Downtown Flushing, Main Street, the 7 subway line, and an exceptional selection of restaurants, shopping, and everyday conveniences. With its R6 zoning, existing income-producing configuration, and highly desirable location, the property presents compelling possibilities for future multifamily or condominium development, subject to all necessary approvals. Acquire today, generate income, and unlock the long-term potential of this exceptional North Flushing property. For developers seeking a larger development site, the seller may also consider offering the adjacent lots as part of a package sale. All development, conversion, and additional dwelling-unit potential should be independently verified by the purchaser and their architect or other appropriate professionals.

Listing History for 31-50 137th Street

Now
08/25/2026
$1,800,000
Initial Price by Edith Yang
Compass
Launch

Building Details for 31-50 137th Street

OwnershipMulti-Family
Building TypeHouse
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts2/2
Learn More About the Building

Flushing | Queens

Quick Profile

Known for its ethnic diversity that includes a large Asian population, Flushing Queens has much to offer. For starters, it’s a foodies paradise. It has several world-class sporting venues, fantastic tourist attractions and of course shopping. For some folks, the nabe is off the beaten path, which makes it a great place to explore, eat and wander.

Flushing is one of the biggest neighborhoods in Queens. It includes the pocket neighborhoods of East Flushing, Downtown Flushing, Auburndale, Waldheim, and Broadway-Flushing. Its boundaries are Whitestone Expressway and Flushing Creek to the west, Utopia Parkway to the east, 25th and Bayside Avenues to the north, Golden Street, and Horace Harding Expressway to the south.   

The earliest inhabitants of Flushing were the Matinecock Indians. In 1628 the Dutch settled on the banks of Flushing Creek and called their new home Vlissingen. When the British took over in 1645, the neighborhood name became anglicized and it was referred to as Flushing.

The mid-1600s was a notable point in Flushing’s history. Local Dutch Governor Peter Stuyvesant jailed or banished anyone practicing Quakerism and other religions within the municipality.

Flushing residents joined together and fought the rule imposed by the Dutch. In 1657, the group drafted the Flushing Remonstrance, which petitioned Governor Stuyvesant to allow the freedom to practice religion. The original authors of the petition were jailed but eventually, the small population of Flushing settlers were given an exemption and could practice Quakerism. Scholars say it was the birthplace of freedom of religion and paved the way for the U.S. Constitution’s provision on freedom of religion in the U.S. Bill of Rights.

The World’s Fair is Flushing's biggest claim to fame. In 1939, the World’s Fair opened at Flushing-Meadows Park in Queens. 63 nations took part in the event that included scientific, cultural, and industrial exhibits. The second World's Fair took place in 1964. Both World Fairs played significant role in the development of Flushing Meadows-Corona Park

Main Street is one of many business districts within Flushing. The 7 train gives direct access to the area which has a high concentration of Asian-owned restaurants and businesses. Downtown Flushing is another commercial area with malls and mom-and-pop stores scattered throughout.

Flushing is more urban than suburban compared to other areas of Queens. The housing stock consists of a mixture of one and two-family homes, mid-rise apartment buildings, and high-density apartment buildings. The pocket neighborhoods of Auburndale, Waldheim, and Broadway-Flushing have a little more of a suburban feel with single-family homes and notable architecture. Broadway-Flushing has its own historic district that includes classic Revival styles from the Eclectic Period, Tudors, Colonials, and other styles.

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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: 107905TH