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142-15 Cherry Ave 20 Unit Apartment Building $13,888,000 ($694,400/Unit) Flushing, NY 11355
Executive Summary
Prime mid-size multifamily investment opportunity in the heart of Flushing. This 6-story elevator building features 20 residential units, all configured as 2-bedroom, 2-bath layouts, offering strong rental appeal and efficient use of space. The property encompasses approximately 17,333 SF and includes a 500 SF community facility, providing additional flexibility and potential income streams. Zoned R7B, the asset offers long-term appreciation potential and future development upside. The building also includes 10 on-site parking spaces, a highly desirable amenity in this high-demand area. Ideally located within walking distance to Main Street transit hub (7 train & LIRR) and surrounded by major commercial destinations such as SkyView Center, Tangram, and New World Mall. Strong rental demand, low vacancy rates, and excellent neighborhood amenities ensure stable and consistent cash flow. A rare opportunity to acquire a well-positioned asset in one of Queens’ most sought-after rental markets.
Property Facts
| Price | $13,888,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $694,400 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.13 AC |
| No. Units | 20 | Building Size | 21,689 SF |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 2011 |
| Zoning | R7B - medium-density residential district | ||
| Price | $13,888,000 |
| Price Per Unit | $694,400 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 21,689 SF |
| No. Stories | 6 |
| Year Built | 2011 |
| Zoning | R7B - medium-density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Elevator
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 05186-0054 | Improvements Assessment | $1,147,500 |
| Land Assessment | $179,550 | Total Assessment | $1,327,050 |
Property Taxes
Parcel Number
05186-0054
Land Assessment
$179,550
Improvements Assessment
$1,147,500
Total Assessment
$1,327,050
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142-15 Cherry Ave
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