$1,548,000
Exceptional opportunity in the heart of Bay Terrace! Offered by the original owners, this spacious brick semi-attached legal two-family home sits on an approximately 29.25' x 100' lot. It offers an outstanding combination of space, income potential, parking, and location. *There is a public swimming pool directly behind the backyard. Daily rates apply. The convenience is simply marvelous!
The first-floor apartment features five rooms, two bedrooms, one full bath, and a 1/2 bath in the primary bedroom. The spacious second-floor owner's apartment offers six rooms, including a living room, formal dining room, updated kitchen, three bedrooms, and 1.5 baths, with a private half-bath in the primary bedroom. The home also features a main entrance, finished walk-in level with an additional bathroom, providing valuable additional space and flexibility. Many neighboring properties have taken advantage of the R5 zoning district by converting this lower-level space into a legal apartment. Increasing the use to THREE Family. The building size is approx. 20X52.
Exceptional off-street parking is another major advantage, with a front driveway leading to the built-in garage plus a long private side driveway, accommodating approximately four vehicles including the garage.
Located in an R5 zoning district, the property offers particularly attractive potential for conversion to a legal three-family residence, as has been done with numerous similar properties throughout the surrounding neighborhood. (presently showing 1800+ buildable sf FAR) Such a conversion may significantly enhance rental income potential, financing opportunities, and the property's long-term inherent value, while requiring only a relatively modest investment relative to the benefits. Buyers should independently verify conversion requirements and feasibility with their architect and other appropriate professionals.
The location is quintessential Bay Terrace, just a few short blocks from coveted P.S. 169 Bay Terrace and immediately convenient to the Bay Terrace Shopping Center, with supermarkets, restaurants, shopping, banking, entertainment, movie theaters, and exciting new fitness and lifestyle amenities. Nearby bus transportation provides convenient connections to Downtown Flushing, the LIRR, and Manhattan.
The waterfront and beautiful Fort Totten Park are also close by, offering miles of enjoyable walking, recreation, and open space.
A rare opportunity to acquire a substantial Bay Terrace two-family with exceptional parking, tremendous versatility, strong income potential, and the possibility of creating an even more valuable legal three-family residence.
6
Beds
⋅
5
Baths
⋅
1036736
MLS
21266 16th Avenue, Bayside
