Investors and developers, seize this incredible opportunity in East Elmhurst, Queens! This vacant lot, measuring 41.75 x 98, is a prime investment with R3X zoning. The potential is boundless for those with a keen eye for lucrative ventures.
Strategically located in a thriving neighborhood, this lot offers close proximity to amenities, including dining, shopping, parks, and entertainment. Additionally, the convenience of having LaGuardia Airport nearby adds to the appeal of this location.
Picture the possibilities - construct a multi-family residence or stylish townhouses that cater to the growing demand for housing in the area. The R3X zoning allows for flexibility and creativity while adhering to local regulations.
East Elmhurst's real estate market is thriving, making this an opportune time to capitalize on the demand for quality homes. Whether you're an experienced developer or an investor seeking returns, this lot is a gem awaiting your touch.
Appraisal Summary:
The subject's overall market is suburban in appeal within an urban environment, with some properties having detached 1
or 2 fam dwellings similar to suburban settings but also attached and semi-attached properties seen in urban settings. The area is proximate to supporting amenities from access to public transportation, major roads, and in particular, LaGuardia airport. The developed neighborhood is nearly 100% built up with a variety of styles of dwellings that do not impede appeal or marketability due to a lack of homogeneity (basic r/e supports superior marketability in a neighborhood of similar homogenous dwellings).
