MLS#1035393
STATUSActive
PROPERTY TYPECommercial -
SCHOOLQueens 25
Property Description
Exceptional 16-Unit Multifamily Investment Opportunity in Murray Hill, Flushing. Rare opportunity to acquire 144-45 & 144-47 37th Avenue, two adjacent brick buildings offered together as a 16-unit multifamily portfolio. Situated on an approximately 50' x 112' lot with a combined building size of approximately 11,970 SF, the property consists of 8 one-bedroom/one-bath units, 8 two-bedroom/one-bath units, and 10 on-site parking spaces. The property generates approximately $350,000 in annual gross rental income with annual operating expenses of approximately $165,000, resulting in a Net Operating Income (NOI) of approximately $185,000. Each building has separate boilers, electric and gas meters, and tenants pay their own utilities, providing efficient operations and strong cash flow. Ideally located in the highly desirable Murray Hill section of Flushing, just minutes from the Murray Hill LIRR Station and the Flushing-Main Street 7 subway station, with convenient access to Downtown Flushing's shopping, restaurants, supermarkets, banks, and everyday amenities. A rare opportunity to acquire a stabilized, income-producing multifamily asset in one of Queens' strongest rental markets. Ideal for investors seeking stable cash flow, long-term appreciation, portfolio expansion, a potential condominium conversion (subject to approvals), or a 1031 Exchange.
Property Features
Property Type: Commercial -
Basement: Yes
Basement: Finished
Cooling: Multi Units, Wall/Window Unit(s)
Heating: Hot Water, Natural Gas
Home Style: Mid Rise
Lot Size: 0.13 Acres
Taxes: $54,687
Year Built: 2001
Feature Descriptions
Building Area Total: 5985
Cap Rate: 5
Days on Site: 1
Exterior: Brick
Heating Units: 16
Heating Zones: 16
On Market Date: 2026-08-06
Parcel Number: 05014-0076
Parking Features: Off Street, Private
Parking Total: 10
Property Attached Y/N: 1
Rental Term: Monthly
Separate Electric Meters: 17
Separate Gas Meters: 16
Sewer: Public Sewer
Units: 16
Utilities: Electricity Connected, Natural Gas Connected, Water Connected
Water: Public
Local Schools
High School: Flushing High School
Middle School: Jhs 189 Daniel Carter Beard
Elementary School: Ps 32 State Street
School District: Queens 25
Listed By / Shown By
Listing By
Agency Name: Skylux Realty Inc
Agency Contact: 718-500-2231
Shown By
Agent Name: Danielle Morgenbesser
Agent Phone: (631) 331-9700
Agency Title: Coldwell Banker American Homes
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144-45 37th Avenue | MLS# 1035393
This commercial property located at 144-45 37th Avenue , Flushing, NY 11354 is currently listed for sale with an asking price of $3,718,000. 144-45 37th Avenue is located within the Queens 25 school district. Search Flushing real estate on daniellemorgenbesser.cbamhomes.com today.