9503 Cresskill PlaceJamaica, NY 11435

Description

95-03 & 95-07 Cresskill Place 8 FREE-MARKET UNITS | TWO BUILDINGS | DEVELOPMENT UPSIDE | STRONG IN-PLACE CASH FLOW A rare opportunity to acquire two adjacent four-unit multifamily buildings in a quiet residential enclave of Jamaica, Queens. Offered as a package, this well-maintained portfolio consists of eight free-market residential units with strong in-place income and significant future upside through expansion or redevelopment. Downtown Jamaica is a vibrant hub in Queens, known for its bustling retail district, diverse shopping, and strong sense of community. York College anchors the area with its expansive campus and contributes to the neighborhood's strong residential demand. Residents enjoy convenient access to parks, museums, fitness centers, entertainment venues, the Long Island Rail Road, AirTrain JFK, and the E, J, and Z subway lines, providing seamless access to Manhattan and the greater New York City area. Downtown Jamaica continues to emerge as one of Queens' most dynamic growth corridors. The neighborhood offers a thriving retail district, diverse dining and shopping options, and excellent transportation connectivity. Property Overview: 95-03 Cresskill Place Four residential units Unit sizes ranging from approximately 597 to 723 square feet Mix of one- and two-bedroom layouts Windowed kitchens, spacious living areas, and ample storage throughout 95-07 Cresskill Place Four additional residential units Unit sizes up to approximately 1,163 square feet Select residences feature oversized living rooms, dedicated dining areas, and multiple exposures One expansive unit spans nearly 40 feet across, offering townhouse-style proportions The properties have been meticulously maintained by long-term ownership and are being delivered occupied. Current rent roll is available upon request. Development Potential: Zoning: R5A Lot Size: 5,250 SF Potential to add approximately two additional stories Estimated buildable area of over 10,806 square feet (buyer to independently verify with architect and zoning professionals) Investment Highlights Eight free-market units Strong existing cash flow Long-term ownership and pride of maintenance Future value-add and development potential Attractive basis in a rapidly growing Queens submarket Excellent opportunity for investors, developers, and long-term holders With ongoing residential and mixed-use development transforming the neighborhood, Downtown Jamaica remains a highly attractive destination for investment and future growth. This is a rare opportunity to acquire two turnkey, free market assets with existing cash flow and clear upside in a rapidly growing pocket of Queens. Being Sold As Is. Shown by appointment only.

Property Information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

1931

Stories

2

Building area

3,200 Sq Ft

Lot size

0.12 acres

Days on market

113

MLS^® Listing#

1007521

Property Features

Cooling

Wall/Window Unit(s)

Heating

Natural Gas

Flooring

Hardwood

Parking

Detached

Construction

Brick

Utilities

See Remarks

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$20,393

Assessed value

$219,600

Parcel number

10006-0001