Unique redevelopment opportunity in an R6 zoning district with substantial Community Facility development potential. The property currently features two residential units, each offering approximately 1,200 square feet of living space with three bedrooms, two baths, and a private terrace. Both units will be delivered vacant at closing, providing immediate flexibility for occupancy, renovation, income generation, or future redevelopment.
The existing first-floor recreation level presents an attractive opportunity for conversion to community facility use, while the upper residential floors may be retained, reconfigured, or incorporated into a broader redevelopment plan. Purchasers may wish to explore the potential for a significant horizontal enlargement, creating a unique mixed-use configuration that combines community facility space with residential occupancy.
Particularly well suited for adult day care providers, child care and early education programs, senior service organizations, social service agencies, counseling and wellness centers, educational programs, religious institutions, and other qualifying community facility users. Exceptional Flushing location offering long-term value and redevelopment potential.
For sale
Price cut: $400K (7/1)
$3,800,000
139-03 Franklin Avenue, Flushing, NY 11355
8beds
3,339sqft
Triplex, Multi Family
Built in 1960
-- sqft lot
$-- Zestimate®
$1,138/sqft
$-- HOA
What's special
Private terraceTwo bathsExisting first-floor recreation levelTwo residential unitsThree bedrooms
- 95 days
- 171
- 3
Zillow last checked:
Listing updated:
Listed by:
Tapestry Real Estate of Queens 718-460-1943,
James S. Powers 718-460-1943
Source: OneKey® MLS as distributed by MLS GRID,MLS#: 1002922
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 5
- Full bathrooms: 5
Heating
- Baseboard, Hot Water, Natural Gas
Cooling
- Wall/Window Unit(s)
Features
- First Floor Full Bath
- Basement: Finished,Full,Walk-Out Access
- Attic: None
- Has fireplace: No
Interior area
- Total structure area: 3,339
- Total interior livable area: 3,339 sqft
Property
Parking
- Total spaces: 3
- Parking features: Driveway
- Has uncovered spaces: Yes
Features
- Exterior features: Balcony
- Fencing: Back Yard,Chain Link
Lot
- Size: 3,915 Square Feet
- Dimensions: 29 x 135
Details
- Parcel number: 051350042
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Triplex, Multi Family
- Attached to another structure: Yes
Materials
- Brick
Condition
- Year built: 1960
Utilities & green energy
- Gas: Separate Gas Meters: 2
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected
Community & HOA
Location
- Region: Flushing
Financial & listing details
- Price per square foot: $1,138/sqft
- Tax assessed value: $128,640
- Annual tax amount: $13,952
- Date on market: 5/27/2026
- Cumulative days on market: 94 days
- Listing agreement: Exclusive Right To Sell
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/1/2026 | Price change | $3,800,000-9.5%$1,138/sqft |
Source:  OneKey® MLS as distributed by MLS GRID #1002922 Report a problem | ||
| 5/28/2026 | Listed for sale | $4,200,000$1,258/sqft |
Source: OneKey® MLS as distributed by MLS GRID #1002922 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $128,640 -6.1% |
| 2024 | -- | $136,980 -0.3% |
| 2023 | -- | $137,340 +8.6% |
| 2022 | -- | $126,420 +20.7% |
| 2021 | -- | $104,760 +4.4% |
| 2020 | $12,556 +0.8% | $100,380 +8.9% |
| 2019 | $12,461 +7.3% | $92,160 +65.9% |
| 2018 | $11,618 +8.8% | $55,540 +6% |
| 2017 | $10,681 +10.5% | $52,397 +6% |
| 2016 | $9,666 | $49,432 |
| 2015 | $9,666 +62.1% | $49,432 +0.8% |
| 2014 | $5,962 | $49,061 +6% |
| 2013 | -- | $46,284 +6% |
| 2012 | -- | $43,665 +6% |
| 2011 | -- | $41,194 |
| 2010 | -- | $41,194 +0.8% |
| 2009 | -- | $40,885 +6% |
| 2008 | -- | $38,571 +6% |
| 2007 | -- | $36,388 +6% |
| 2006 | -- | $34,329 |
| 2005 | -- | $34,329 +0.8% |
| 2004 | -- | $34,071 +6% |
| 2003 | -- | $32,143 +6% |
| 2002 | -- | $30,324 +6% |
| 2001 | -- | $28,608 |
| 2000 | -- | $28,608 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: Flushing
Nearby schools
Schools provided by the listing agent
- Elementary: Ps 184 Flushing Manor
- Middle: Is 237
- High: Flushing High School
Source: OneKey® MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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