• buy
  • rent
  • sell
  • agents
new developmentWORLD OF ELLIMAN
The latest in luxury property, lifestyle & culture, curated just for you.

company

  • about us
  • leadership
  • offices
  • press & news
  • elliman cares
  • join as an agent
  • careers
  • INTERNATIONAL PARTNERSHIP
  • THE ISLES GROUP
  • investors

resources

  • WORLD OF ELLIMAN
  • elliman insider
  • magazines
  • market reports
  • research reports
  • The wealth report
  • Elliman Exclusives
  • Featured Cities
  • guides to buying & selling

brand portfolio

  • new development
  • commercial
  • relocation
  • property management
  • sports & entertainment
  • farm & ranch
  • building broker specialists
  • title services
  • master trust & probate

  • California
  • Colorado
  • Connecticut
  • Florida
  • Massachusetts
  • Mid-Atlantic
  • Nevada
  • New Jersey
  • New York
  • New York City
  • Texas
  • Vermont
  • SITE MAP
  • TERMS
  • PRIVACY
  • COOKIE PREFERENCES
  • DO NOT SELL OR SHARE MY PERSONAL INFORMATION
  • NYS Housing Discrimination Disclosure Notice & Form
  • NYS Standard Operating Procedure
  • NYS Tenants' Rights to Reasonable Accommodations for persons with disabilities
  • California Consumer Privacy Act Notice
  • Texas Consumer Protection Notice
  • Texas Real Estate Commission Information About Brokerage Services
  • text of new york city human rights law
  • new york city commission on human rights
  • nyc source of income discrimination information
  • nyc source of income discrimination tenant faqs

THE SOURCE OF THE DISPLAYED DATA IS EITHER THE PROPERTY OWNER OR PUBLIC RECORD PROVIDED BY NON-GOVERNMENTAL THIRD PARTIES. IT IS BELIEVED TO BE RELIABLE BUT NOT GUARANTEED. FOR COLORADO VIEWERS, INFORMATION ABOUT NON-COMMERCIAL PROPERTIES IS PROVIDED EXCLUSIVELY FOR YOUR PERSONAL, NON-COMMERCIAL USE.

575 MADISON AVENUE, NEW YORK, NY 10022. 212.891.7000 © 2025 DOUGLAS ELLIMAN REAL ESTATE. EQUAL EMPLOYMENT OPPORTUNITY PROVIDER. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES, OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS, AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT, OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.LISTING DATA REFRESHED ON MAY 22 2025 AT 12:16 PM.

DOUGLAS ELLIMAN IS A LICENSED REAL ESTATE BROKER IN CALIFORNIA WITH LICENSE # 01947727, COLORADO WITH LICENSE # EC100053892, CONNECTICUT WITH LICENSE # REB.0314827, THE DISTRICT OF COLUMBIA WITH LICENSE # REO40000160, FLORIDA WITH LICENSE # CQ1020232, MARYLAND WITH LICENSE # 645270, MASSACHUSETTS WITH LICENSE # 422764, NEVADA WITH LICENSE # 1454643, NEW JERSEY WITH LICENSE # 0572105, NEW YORK WITH LICENSE # 10991211812, TEXAS WITH LICENSE # 9008706, AND VIRGINIA WITH LICENSE # 0226035659.

POWERED BY PURLIN.AI

46-15 48TH Ave

queens, NY 11377

$3,800,000

  • 12 BR
    7 BA
    APPROX. 6,020 SF

INTERESTED? LET'S CONNECT

The Forray Team at The Corcoran Group presents 46-15 48th Avenue, a fully remodeled mixed-use building located in the heart of Sunnyside, Queens. This turn-key investment property comprises four free market residential units and one commercial space, offering a balanced income stream in a high-demand rental market.

Redeveloped in 2018, the property seamlessly blends classic architecture with modern amenities. The residential units feature high-end finishes, including stainless steel appliances, in-unit washers and dryers, and hardwood flooring, catering to discerning tenants and ensuring premium rental rates.

Strategically situated just a short walk from the 7 train at 46th Street-Bliss Street, the building provides tenants with swift access to Midtown Manhattan and other key areas. The neighborhood is rich with amenities, including popular establishments such as Cemitas El Tigre, known for its authentic Mexican cuisine, and The Alcove, a highly-rated local eatery. Additionally, the property is within close proximity to Joe Sabba Park, offering green space for relaxation and community events. Just a few blocks away, the $275 million East End Studios project is set to bring a state-of-the-art production facility to the area, further enhancing the neighborhood's growth and appeal.

Financially, the property demonstrates robust performance, with a current cap rate of 5.38% and a projected cap rate of 6.16%, indicating strong appreciation potential. The property also benefits from favorable tax class 2A status, with a current NOI of $204,622, reflecting a 5.38% cap rate based on a $3,800,000 purchase price. Projections indicate potential growth, with NOI projected up to $234,000 with improvements and further future growth with rising rents for both residential and commercial units.

With its modern upgrades, prime location, and promising financial metrics, 46-15 48th Avenue represents an exceptional investment opportunity in one of Queens' most desirable neighborhoods. For further details or to schedule a private showing, please contact The Forray Team directly.

Details

6,020 Sq Ft

2,000 Sq Ft Exterior Space

Other

$16,788 Annual Tax

Built in 1928

MLS/Listing ID RLS20006388

5 Units

Amenities & Features

Washer Hookup

Green Building

Washer/Dryer Allowed

Pets Allowed

Listing Courtesy of CORCORAN GROUP, CHRISTOPHER V CAVORTI - 914-804-7091

REBNY

Source of Data: REAL ESTATE BOARD OF NEW YORK

Interested in 46-15 48TH Ave?

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.

©2025 The Real Estate Board of New York, Inc., All rights reserved.