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FIRST TIME EVER OFFERED! Nestled on a beautiful residential block in the highly sought-after North Flushing / Bowne Park section of Queens, this custom-built wide-line Cape Cod presents a rare opportunity for today's homeowner, renovator, or long-term investor. Positioned in an R2A Zoning District, on an oversized 60' x 100' rectangular lot encompassing approximately 6, 000 square feet, the property offers exceptional long-term upside. The expansive parcel, combined with current zoning provisions that permit increased residential floor area, creates a unique opportunity to substantially expand the existing residence through thoughtful horizontal and/or vertical alterations. Whether enhancing the current footprint or creating a significantly larger custom home, the generous lot dimensions and underlying construction provide an outstanding foundation for future value creation. The home features 4 bedrooms, 2 full baths, a gracious living room highlighted by a wood-burning fireplace, and a versatile layout with two bedrooms and a full bath on each level. Constructed with enduring quality, the residence is supported by a poured-concrete foundation, a double steel-girder construction, and a full, high-ceilinged basement offering additional possibilities. Major mechanical improvements include updated gas heating, a Weil-McLain hot-water boiler, and a gas-fired domestic hot-water heater. A detached 1. 5-car garage is situated at the rear corner of the property and is complemented by a long private driveway providing ample off-street parking. The existing home is built upon an approximate 38' x 27' foundation footprint, a notably substantial width that is exceptionally well-suited to today's residential development and enlargement trends. Combined with the oversized 6, 000-square-foot parcel, the existing footprint provides an outstanding platform for future expansion while maintaining attractive proportions, functionality, and curb appeal. Buyers seeking a larger custom residence will immediately recognize the inherent value of the existing foundation and structural framework. Conveniently located near shopping, transportation, parks, and schools, this is a rare opportunity to acquire a solidly built residence with immediate livability and exceptional future upside. "Properties combining a 60' X 100' lot with a substantial 38-foot-wide foundation are increasingly difficult to find in today's market. " Vacant, first time on the market, and ready for its next chapter. Easy to show
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Our Executive Mortgage Banker:
$1,395,000
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 | $1,116,000 | $1,116,000 | $1,116,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.259% | 6.183% |
| Monthly Tax Payment | $934 | $934 | $934 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,337 | $6,781 | $9,417 |
| Total Monthly Payment | $7,396 | $7,840 | $10,476 |
* 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.