About the Listing 334 - 60339,61915

11-46 Welling Court Astoria, Queens Free Market Six-Family + 2 Parking Spaces + Backyard + Value-Add Upside Investment Overview: 11-46 Welling Court presents a rare opportunity to acquire a fully free-market six-family building in the heart of Old Astoria. Built in 1990 and spanning approximately 4,425 SF across three stories, the property features six residential units, two on-site parking spaces, and a large, private backyard. Investment Highlights: -All Free Market Units - No rent stabilization or control. -Delivered Vacant Unit - Includes one parking space. Perfect for live-plus-income buyers or immediate leasing. -Private Backyard - Expansive rear yard accessible to select units; potential for shared outdoor space or exclusive-use rental premium. -Strong in-place income with projected upside potential through upgrades and full lease-up. -Two On-Site Parking Spaces - One leased, one delivered vacant. -Multiple Value-Add Plays - -Install income-generating storage cages -Add laundry room or shared amenities -Upgrade roof deck for tenant enjoyment -Renovate interiors for stronger rental premiums -Efficient Layout - Two apartments per floor (front and rear). Several units with outdoor access. -Zoning - R4-1 Built FAR: 1.65 Lot: 2,685 SF (buyer to confirm development rights). -Low Operating Expenses - Mostly separately metered utilities, low-maintenance layout. Location: Ideally located in Old Astoria, just blocks from Socrates Sculpture Park, the NYC Ferry, local shops, parks, and an increasingly vibrant restaurant scene.

Listing Highlights