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Strong mixed-use investment opportunity in Auburndale, Flushing. With 3, 800 SF of building area, this property offers multiple income streams through commercial retail space, two residential units above, and a garage with storage spaces. Zoned R3-2 with C1-3 commercial overlay. Buyer should independently verify zoning, permitted use, and occupancy. The front commercial space offers approximately 1, 400 SF with a private restroom and basement access, currently occupied by an established tenant. The rear garage offers approximately 1, 000 SF with separate rear access and additional basement space, currently configured for storage use which generate additional income. The second floor features two residential units with updated kitchens and renovated bathrooms, including a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit with exclusive access to an approximately 720 SF private rooftop patio, a valuable outdoor feature in Queens. Additional features include separate electric and gas meters for residential and commercial tenants, plus garage parking. Conveniently located near Northern Boulevard, supermarkets, restaurants, shopping, and everyday amenities, with access to Q26, Q27, and Q31 bus lines connecting to Downtown Flushing, the 7 subway line, and Auburndale LIRR station. A practical opportunity for investors seeking a mixed-use asset with existing income, flexible space, parking, and long-term value in an established Flushing neighborhood.
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Our Executive Mortgage Banker:
$1,650,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,320,000 | $1,320,000 | $1,320,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.361% | 6.183% |
| Monthly Tax Payment | $908 | $908 | $908 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,495 | $8,127 | $11,139 |
| Total Monthly Payment | $8,528 | $9,160 | $12,172 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.