1417 117TH Street

Description

A strong buy-and-hold investment property in College Point, Queens, especially for someone who wants stable rental income with minimal immediate work. Key investment positives: • Newer construction (2020): Lower near-term capital expenditure risk (roof, plumbing, electric, structure all relatively new), which typically improves cash flow. • Fully brick, three above-ground levels plus Finished basement, Brick and newer construction are attractive to lenders and tenants, and the basement with a separate entrance can boost effective income if used legally within zoning and code limits. • Two-family setup with separate meters: Separate electric, gas, and boilers are ideal for an investor because tenants can pay their own utilities, reducing your operating expenses and simplifying rent structures. • No-renovation, tenant-occupied: You can collect rent from day one after closing, which reduces vacancy risk and stabilizes early cash flow; this is common in College Point multifamily trades marketed as “turnkey.” • Modern amenities (split-system AC in each room): Ductless split systems are energy-efficient and quiet, which improves tenant satisfaction and can justify stronger rents compared with older walk-ups relying on window units or no AC. This configuration supports multiple income streams and flexibility for owner-occupancy plus rental, or pure investment. • Parking and laundry: Two parking spaces and a dedicated laundry room are high-value amenities in this part of Queens, where on-street parking can be challenging and in-unit or on-site laundry is a frequent tenant demand. • Transit and retail proximity: A short walk to Q26, Q20, and Q25 buses, all connecting directly to Flushing, makes the location attractive to commuters who rely on bus-to-subway access; proximity to College Point Plaza, supermarkets, banks, and restaurants increases walkability and tenant appeal.