A BUILDER’S DREAM PROPERTY. Prime 38 × 95 lot with private off-street parking for sale in the heart of Rego Park, Queens.
The full specs of the property are 3,618 total square feet, 2,713 buildable square feet and R4 zoning which affords the possibility of building a single family or 2-3 family home.
There is a 1,236 square foot house (with basement) in disrepair that currently exists on the property but otherwise the lot is ready for a new home to be built. Comparable after repair value of similar homes in the area suggest a hefty return on the investment for a developer or final valuation for an end user. There is also very limited new or fully renovated, detached single and 2-3 family homes on the market which will guarantee a satisfactory valuation despite supply chain issues and higher building costs. Annual taxes are $6,514.28.
The property is situated on a peaceful tree lined block within a short distance to the R and M subway lines on Queens Boulevard, Foodtown, CVS, Costco, Bed Bath and Beyond, Flushing Meadows Corona Park and zoned for District 28 schools including Forest Hills High School.