137-16 88th Street, Queens, NY 11417
Photos
1 / 280 days on market · Listed June 15, 2026
About 137-16 88th Street
Exceptional investment opportunity in the heart of Ozone Park. This brick 5-unit income-producing property consists of five 1-bedroom apartments and is currently operating at approximately a 5 percnt cap rate with significant upside potential. Two units are currently vacant, providing a rare opportunity for a new owner to immediately lease at market rents and substantially increase the property's income and overall return. Additional features include a private driveway, garage, common laundry area with supplemental income potential, separate utility services, and approximately 3,705 square feet of building area. Located just minutes from Cross Bay Boulevard, transportation, shopping, restaurants, and major roadways. Whether you're looking for a stable long-term hold, value-add investment, or 1031 exchange opportunity, this property offers immediate cash flow with the ability to significantly improve performance through lease-up and rental optimization. Rarely does a Queens multifamily asset offer both current income and such clear potential for future growth.
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 5
- Full bathrooms: 5
- ½ bathrooms: 0
Heating
- Natural Gas, Hot Water, Steam
Cooling
- Units
Features
- Basement: None
- Ceiling Fan(s)
Interior area
- Total interior livable area: 3,705 sqft
Property
Parking
- Parking features: Driveway, On Street
- Garage spaces: 1
- Attached garage: Yes
Features
- Stories: 3
- Fencing: Back Yard, Fenced
- Patio & porch: Deck
- Balcony
Lot
- Size: 3,284 sqft (0.08 acres)
- Dimensions: 22.3x120
- Features: Back Yard
Details
- Zoning: R4
Construction
Type & style
- Home type: Residential Income
- Property subtype: Quadruplex
- Architectural style: Other
Materials
- Brick
Condition
- Fair
- New construction: No
- Year built: 1978
Utilities & green energy
- Electric: 220 Volts
- Sewer: Public Sewer
Community & HOA
Location
- Region: Queens
HOA
- Has HOA: No
Financial & listing details
- Price per square foot: $270/sqft
- Annual tax amount: $32,524
- Date on market: 6/15/2026
- Listing agreement: Exclusive Right To Sell
- MLS#: 2603336
Why you'll love 137-16 88th Street in Off Island, Queens, NY
137-16 88th Street is a 5-bedroom, 5-bathroom multi-family home for sale in Off Island, Queens, NY. It offers approximately 3,705 square feet of living space and was built in 1978. It is offered at $999,000, MLS# 2603336.
Inside, 137-16 88th Street features 3 stories, a none basement, natural Gas and Hot Water heat and units cooling. Other interior highlights include ceiling Fan(s). Outdoor features include balcony. For parking, the property offers a 1-car garage and driveway and On Street. It sits on a lot of roughly 3,284 square feet (about 0.08 acres).
Off Island offers convenient access to shopping, schools, parks, dining, and everyday essentials. Annual property taxes are approximately $32,524. To tour 137-16 88th Street in Off Island, contact Neuhaus Realty — Staten Island's #1 real estate agency since 1969 — to schedule a private showing.
Location
MLS# 2603336. Listing courtesy of Re/Max Edge. Listing information is provided by the Staten Island Multiple Listing Service, Inc. Listing data is deemed reliable but is not guaranteed accurate by the MLS.
